Anthropic has set a price range for its much-anticipated IPO. In a regulatory filing on Tuesday, it said shares would be priced between $70 and $78, aiming to raise between $57 billion and $64 billion.
Investors including Broadcom, Google and Nvidia have agreed to buy $26 billion of shares at the IPO price, bringing the total to around $90 billion. At the high end, it would be the largest public offering ever, ahead of the $75 billion SpaceX initially raised in June, though SpaceX ultimately sold more than $85 billion.
Anthropic Could Raise Up to $90 Billion in Record-Breaking IPO
The raise could value Anthropic at up to about $1 trillion, or around $1.4 trillion on a fully diluted basis. Earlier reports suggested as much as $2 trillion, and later ones said some investors lowered expectations to about $1.5 trillion.
Anthropic was valued at $965 billion after a $65 billion round in May. The filing also said some board members and affiliates have indicated interest in buying up to $303 million in shares.
Earlier filings showed a net loss of about $42 billion on revenue of $4.6 billion in 2025. An amended filing reported nearly $17 billion in third-quarter revenue and a $567 million operating loss, plus $895 billion in committed compute and infrastructure spending. The IPO is reportedly targeted for mid-November.
