# Anthropic IPO terms — $70 to $78 a share, $26B from seven chip and cloud firms

> Anthropic sets the price range for its Nasdaq listing, and seven chip and cloud suppliers commit $26B.

- Org: Anthropic
- Date: 2026-11-10
- Category: ecosystem
- Source: https://www.anthropic.com/news/roadshow-launch
- Canonical page: https://ai-tldr.dev/releases/anthropic-ipo-price-range-roadshow/

## In short

Anthropic launched its IPO roadshow: 825 million shares at $70 to $78 on Nasdaq as ANT. A new filing adds a $26B share sale to AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC at the IPO price.

## What it is

Anthropic's IPO roadshow began on November 10, 2026. The company is offering 825 million Class A shares at an expected $70 to $78 each, 801 million of them new and about 24 million from existing holders, on the Nasdaq Global Select Market under the ticker ANT.

## How it works

An amended S-1 filed the same day adds a private placement: AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC agreed to buy $26 billion of Class N stock at the IPO price. Per the filing, Nvidia's part at the $74 midpoint is about 135.1 million shares, or roughly $10 billion. CNBC reports that pricing is planned for November 18 and trading for November 19, dates the company has not confirmed.

## Why it matters

The companies that sell Anthropic its chips and cloud capacity are becoming large shareholders, which ties Claude's compute supply more tightly to its owners. CNBC reports the offering could net Anthropic up to $64.35 billion and value it at up to $1.405 trillion fully diluted, the money that pays for the next generation of Claude models.

## Who it's for

Claude customers, investors and AI industry watchers

## Quick facts

- Shares offered: 825 million Class A (801.4M new, 23.6M from holders)
- Price range: $70.00 to $78.00 per share
- Exchange / ticker: Nasdaq Global Select Market, ANT
- Private placement: $26B of Class N stock at the IPO price
- Placement buyers: AMD, Broadcom, Google, Micron, Microsoft, Nvidia, TSMC
- Expected trading: 19 November (CNBC sources, not confirmed)

## FAQ

### How much is Nvidia investing in Anthropic's IPO?

Anthropic's amended S-1 says that at the $74 midpoint price, Nvidia would buy about 135.1 million Class N shares for roughly $10.0 billion. Nvidia is one of seven companies, with AMD, Broadcom, Google, Micron, Microsoft and TSMC, that agreed to buy a combined $26 billion of Class N stock at the IPO price.

### When will Anthropic stock start trading?

Anthropic's roadshow announcement gives no date. CNBC reports, citing people familiar with the deal, that pricing is planned for November 18, 2026 and trading on Nasdaq under the ticker ANT for November 19. Those dates are not confirmed by Anthropic and can still move.

### What valuation does the Anthropic IPO price range imply?

CNBC calculates that at the top of the $70 to $78 range, Anthropic would net up to $64.35 billion and reach a fully diluted value of up to $1.405 trillion. That is above the $965 billion valuation of its May 2026 funding round, but below the roughly $2 trillion Anthropic had reportedly aimed for.

### How does this update Anthropic's first S-1 filing?

Anthropic's first public S-1 on October 26, 2026 named the ANT ticker but left the share count and price open. The November 10 amendment sets 825 million shares at $70 to $78 and adds the $26 billion private placement, plus nine-month results: $33.24 billion in revenue and a $104 billion net loss, per CNBC.

## Links

- [Anthropic Announcement](https://www.anthropic.com/news/roadshow-launch)
- [S-1/A on SEC EDGAR](https://www.sec.gov/Archives/edgar/data/2130357/000162828026072484/anthropicpbc-sx1ax2.htm)
- [CNBC Report](https://cnbc.com/2026/11/10/anthropic-sets-price-range-of-70-to-78-in-upcoming-ipo.html)