Anthropic filed an updated IPO prospectus on Tuesday, November 10, 2026, announcing it will sell 825 million Class A shares at $70 to $78 each, which could raise $57.75 billion to $64.35 billion and value the company at up to $1.404 trillion. It also struck a private placement of $26 billion of non‑voting Class N stock with AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC, with Google and Nvidia each committing $10 billion. The company expects total net proceeds of $84.6 billion to $93.7 billion and plans to begin Nasdaq trading around November 19 under the ticker "ANT".
The massive valuation and capital raise demonstrate that investors remain willing to fund large‑scale AI compute despite a broader pullback in AI investing, reinforcing Anthropic as a direct rival to OpenAI's $1.25 trillion valuation. The concentration of voting power in the founders and the involvement of leading chipmakers could lock in hardware‑software partnerships that shape industry standards for generative AI services.