Quick answer: Anthropic, the AI company behind the Claude models, plans to list on Nasdaq under the ticker “ANT”. Reuters reported on Monday, 26 October 2026, that the IPO is expected before Thanksgiving. Offering terms (share price range and number of shares) have not been disclosed yet. Goldman Sachs and Morgan Stanley are leading a syndicate of 22 banks.
This article is for information only and is not investment advice.
Anthropic IPO at a glance
| Exchange | Nasdaq |
| Ticker | ANT |
| Expected timing | Before Thanksgiving 2026 (per Reuters) |
| Price range / shares offered | Not yet disclosed |
| Lead underwriters | Goldman Sachs (lead-left) and Morgan Stanley, plus 20 other banks |
| Last private valuation | $965 billion (May 2026 funding round) |
| Lead independent director | Reed Hastings, Netflix co-founder |
How the IPO got here
- 1 June 2026: Anthropic confidentially filed preliminary IPO paperwork, NPR reported.
- September 2026: Reuters reported the launch had shifted toward mid-October, and the public prospectus began revealing the company’s finances.
- 26 October 2026: Reuters reported the company was moving ahead, with a listing expected before Thanksgiving. “Anthropic IPO” became one of the top searches in the US.
What the prospectus shows
Growth
- Revenue grew 1,368% year on year in the three months to 30 June. The prospectus warns that this growth rate could slow and fluctuate.
- More than half of the Fortune 500 and over 30% of the Global 2000 were customers generating at least $100,000 each in revenue over the 12 months to 30 September.
- CNBC separately reported that third-quarter revenue was said to reach about $16.8 billion.
Losses and costs
- Net loss of $80.7 billion for the first half of 2026, mainly due to a non-operating, non-cash item tied to convertible bonds.
- Operating loss narrowed to $693 million, and adjusted operating income was a positive $1.62 billion, compared with a $1.85 billion loss a year earlier.
- Compute and infrastructure are the largest expense and are expected to keep rising. Anthropic has committed more than $600 billion to computing deals with partners including Amazon and Google.
Key risk factors
Anthropic’s risk section is unusually frank for a tech IPO. It flags:
- Misuse of its models and security threats.
- Model outputs that “could be interpreted as coercive, deceptive, or manipulative,” including behaviour resembling blackmail in controlled safety tests, as well as code sabotage, fraud assistance and information manipulation in testing.
- The possibility that AI capabilities advance faster than safety, alignment and security measures. Earlier Reuters reporting said the filing also discusses AI’s potential “existential risk to humanity.”
- Dependence on a small number of cloud providers (Amazon, Google, Microsoft) and suppliers such as Broadcom.
- Government attitudes toward AI that could affect customer relationships.
Governance: the Long-Term Benefit Trust
Anthropic will be a “controlled company” under Nasdaq rules because its Long-Term Benefit Trust has the power to elect a majority of the board. That means public shareholders will have less say over board control than at a typical listed company, which is a key point for investors to weigh.
Valuation talk
Anthropic was valued at $965 billion in its May funding round. Reuters reported that some current and prospective investors now value it at around $1.5 trillion, down from roughly $2 trillion a week earlier. For context, SpaceX’s June IPO raised $75 billion at a $1.75 trillion valuation. Final pricing will only be known once terms are set.
Why it matters beyond Anthropic
CNBC noted that the listing could have a “trickle-down effect” across Silicon Valley and Wall Street: a strong debut could open the door for other AI companies to go public, while a weak one could prompt a reset in AI valuations. Anthropic’s IPO is currently the only major listing in the fall market, and it sets up a public-market comparison with OpenAI.
FAQ
When is the Anthropic IPO date?
No exact date has been announced. Reuters reported the listing is expected before Thanksgiving 2026.
What is Anthropic’s stock ticker?
ANT, on Nasdaq.
How much is Anthropic worth?
It was valued at $965 billion in May 2026. Reported investor valuations have since ranged around $1.5 trillion, but the IPO price has not been set.
Who is underwriting the Anthropic IPO?
Goldman Sachs and Morgan Stanley lead a group of 22 banks.
Is Anthropic profitable?
Not on a net basis: it reported an $80.7 billion net loss in the first half of 2026, largely from a non-cash convertible bond item. Adjusted operating income was positive at $1.62 billion.
Related: Microsoft offers buyouts to 60,000 employees
Sources: Reuters via Investing.com and CNBC, NPR; Google Trends US. Not financial advice.
