Anthropic Stock: IPO Range $70 to $78, Nasdaq Ticker ANT

November 11, 2026. Anthropic expects to price its initial public offering between $70 and $78 a share and has applied to list on the Nasdaq Global Select Market under the ticker ANT, the company said on November 10 when it launched its IPO roadshow. The offering is 825 million shares, worth $57.75 billion to $64.35 billion gross at that range, before fees. You cannot buy ANT yet: the shares cannot be sold until the SEC registration becomes effective.

What Anthropic announced on November 10

The details come from Anthropic's own roadshow announcement. In order:

1. Price range: "between $70.00 and $78.00 per share" for Class A common stock.
2. Size: 825,000,000 shares. Anthropic is selling 801,351,354 of them and existing stockholders are selling 23,648,646. Anthropic "will not receive any proceeds" from the stockholders' shares.
3. Extra shares: the underwriters are expected to get a 30-day option to buy up to 123,750,000 more shares, which is 15% of the offering.
4. Exchange and ticker: Nasdaq Global Select Market, symbol "ANT."
5. Status: the registration statement "has not yet become effective," and the shares "may not be sold, nor may offers to buy be accepted" until it does.

Anthropic IPO timeline so far

Fortune reported on November 10 that Anthropic "filed confidentially in June." On October 26, Anthropic said it had filed a public S-1 with the SEC and named the ticker, but said the share count and price range "have not yet been determined." The November 10 roadshow filled in both. Fortune reported that trading "could start as early as Wednesday or Thursday next week," which would be November 18 or 19. Anthropic has not announced a pricing date or a first trading date.

The math on the range

These figures are our arithmetic on Anthropic's share counts, before underwriting fees.

Fortune reported two more numbers. Seven strategic partners, including Google and Nvidia, agreed to buy $26 billion of non-voting stock at the IPO price, and the range would value Anthropic at up to $1.4 trillion on a fully diluted basis. Add the $26 billion to the top of the range and the total comes to about $90 billion before the underwriters' option.

Fortune also reported that an amended filing put Anthropic's annualized revenue run rate at about $81 billion at the end of October, up from roughly $71 billion in late September. That is a rise of about 14%. We could not open the SEC filing itself during this check, so these three figures are as Fortune reported them.

How to buy Anthropic stock

Before trading starts, IPO shares are allocated through the underwriters. Anthropic's announcement names Goldman Sachs and Morgan Stanley as the places to get a copy of the prospectus, the offering document. Once the registration is effective and the stock is priced, ANT should trade on Nasdaq like any other listed share, through a brokerage account that offers Nasdaq stocks. The first trade price can differ from the IPO price in either direction.

This is general information, not financial advice. We are not licensed advisors, and nothing here is a view on whether to buy the stock.

What the filing says about risk

Fortune reported that the prospectus warns that using AI to build more capable AI "could also pose a considerable safety risk, particularly if it sharply accelerates the pace of progress." The offering also lands in a weak market: Fortune noted that the Nasdaq fell 5.5% the week before the roadshow.

What it means for small teams

For businesses that build on Claude, neither of Anthropic's two IPO announcements, which we read in full, mentions Claude plans or API rates. Model rates are covered in our Claude Fable 5.2 pricing brief. Three things change once ANT trades:

1. More disclosure. A listed company files regular reports with the SEC, so revenue, costs and risks get updated in public every quarter. That helps if you are judging how much of your stack to put on one AI vendor.
2. A public signal. Pricing, product and safety decisions will be read against a share price. Watch the prospectus risk factors for anything that touches the API you depend on.
3. No reason to rush a switch. The November 10 announcement is about the share offering only. We would keep any workflow portable across models, IPO or not.

If you want Claude or another model running in your sales and support work without locking into one vendor, see our AI automation agency page. If you want your business to show up when buyers ask Claude or ChatGPT for a provider, see AI search optimization. For what a customer-facing assistant costs to run, see AI chatbot for business cost. Our June brief on the first Anthropic IPO filing covers what was known then.