What Is Anthropic's IPO Price? Roadshow Reveals ANT Stock's Potential $1.4 Trillion Valuation

Anthropic, the AI company founded by Dario Amodei and best known for Claude and Claude Code, launched its IPO roadshow on November 10, 2026, revealing a proposed IPO price of $70 to $78 per share and a potential $1.4 trillion valuation on a fully diluted basis. The company plans to offer 825 million Class A shares, potentially raising up to $64.35 billion. Anthropic has applied to list on Nasdaq under the ticker ANT, with Reuters reporting an expected trading debut on November 19.

The roadshow has attracted strong investor interest, with Bloomberg reporting on November 11 that orders had already exceeded the available shares several times over. Beyond pricing and demand, the updated disclosures provide a closer look at Anthropic's revenue growth, profitability, and substantial AI infrastructure commitments. This article examines the latest IPO valuation, investor demand, financial performance, and ways to gain exposure through BingX before the expected public listing.

Anthropic IPO Price and Valuation at a Glance

IPO Detail	Latest Information
Company	Anthropic, developer of Claude and Claude Code
Proposed Nasdaq ticker	ANT
IPO price range	70–78 per share
Shares offered	825 million Class A shares
Potential IPO proceeds	57.75B–64.35B gross
Potential fully diluted valuation	Approximately $1.4 trillion at $78 per share
Valuation based on outstanding shares	Approximately $1.02 trillion at $78
Concurrent private placement	$26 billion
Roadshow launch	November 10, 2026
Expected first trading day	November 19, 2026, subject to confirmation
Reported investor demand	Multiple times oversubscribed, according to Bloomberg

1. What Is Anthropic's IPO Price and How Could Its Valuation Reach $1.4 Trillion?

Anthropic's proposed IPO price range is $70 to $78 per share, according to its November 10 amended S-1 filing. The offering comprises 825 million Class A shares, potentially raising $57.75 billion to $64.35 billion, or $61.05 billion at the $74 midpoint.

IPO Detail	November 10 Filing
Price range	70–78 per share
Total shares offered	825 million
New shares issued	801.35 million
Existing shareholder shares	23.65 million
Gross offering size	57.75B–64.35B
Underwriters' option	Up to 123.75 million additional shares

The proceeds from secondary share sales go to existing shareholders rather than Anthropic. The November 10 filing also supersedes preliminary November 9 figures of 866.7 million shares at $70 to $80, which Anthropic described as inaccurate.

How Could Anthropic Reach a $1.4 Trillion Valuation?

At the $78 upper end, Anthropic could reach a $1.4 trillion fully diluted valuation, according to Reuters, exceeding its $965 billion private valuation in May 2026 but remaining below earlier expectations of $1.5 trillion to $2 trillion.

Reuters also estimated a $1.02 trillion valuation based on outstanding shares. The difference reflects whether potential shares from stock options and other equity awards are included. Investors should distinguish between these valuation methods when assessing the IPO.

2. When Is the Anthropic IPO and What Has the Roadshow Revealed?

Anthropic launched its IPO roadshow on November 10, 2026, with ANT shares expected to begin trading on Nasdaq on November 19, subject to regulatory effectiveness and final pricing. The listing date remains a reported target rather than confirmed.

Key developments from the roadshow include:

Updated offering terms: A 70–78 price range for 825 million shares, targeting up to $64.35 billion in gross proceeds.
Financial disclosures: Nine-month 2026 results providing greater visibility into revenue growth and profitability.
Additional financing: A separate $26 billion private placement and updated computing infrastructure commitments.
Strong institutional demand: Bloomberg reported on November 11 that orders exceeded available shares multiple times, although the final oversubscription level remains unconfirmed.

The final offering price and share allocations have not been announced, and investor orders may change before pricing.

3. What Are the Biggest AI Companies Investing in Anthropic's IPO?

Anthropic and its selling shareholders could raise $57.75 billion to $64.35 billion through the public offering. The company has also arranged a separate $26 billion private placement of Class N shares at the IPO price, bringing the combined gross offering value to approximately $83.75 billion to $90.35 billion, excluding the underwriters' option. This total includes proceeds for selling shareholders and does not represent Anthropic's net fundraising proceeds.

Major investors participating in the private placement include:

Google and NVIDIA: Expected to invest $10 billion each, representing the largest disclosed commitments.
AMD, Broadcom, and Micron: AI chip and memory suppliers participating as strategic investors.
Microsoft: A major cloud and AI infrastructure partner.
TSMC Partners: An additional participant connected to the semiconductor ecosystem.

These investments strengthen Anthropic's financial ties to the AI infrastructure industry. However, equity investments are separate from commercial cloud and chip supply agreements and should not be treated as revenue generated from Anthropic's expansion.

4. Can Anthropic's Revenue Growth Support a $1.4 Trillion Valuation?

Anthropic generated $33.2 billion in revenue during the first nine months of 2026, up from $2.5 billion a year earlier, according to its amended S-1. Its GAAP operating loss narrowed to $1.3 billion, while adjusted operating income reached $4.1 billion, reflecting stronger growth and improving operating efficiency despite continued GAAP losses.

Financial Metric	9M 2026	9M 2025
Revenue	$33.2B	$2.5B
GAAP operating loss	($1.3B)	($5.2B)
Adjusted operating income (loss)	$4.1B	($3.1B)
Enterprise customers spending $100K+ annually	11,900+	950+

Anthropic also reported $81 billion in annualized run-rate revenue as of October 31, up $10 billion from September. Enterprise customers generating at least $100,000 in trailing 12-month revenue contributed approximately $24.5 billion, or 74% of nine-month revenue, highlighting strong adoption of Claude and Claude Code. However, run-rate revenue is not actual annual revenue, and sustaining enterprise growth while improving GAAP profitability will be critical to justifying a potential $1.4 trillion valuation.

5. Can Anthropic Afford Its $900.9 Billion AI Infrastructure Commitments?

Anthropic disclosed approximately $900.9 billion in aggregate purchase and lease commitments, primarily for computing infrastructure, as of and subsequent to September 30, 2026. These obligations are spread across multiple years, with some subject to termination rights or other conditions.

Financial Detail	Amount
Total purchase and lease commitments	$900.9B
Commitments due within 12 months	$70.7B
Commitments expected through 2030	$451.6B
Cash and cash equivalents	$95.6B
Short-term investments	$36.3B
Available credit facilities	$14.8B
Total available liquidity	$146.6B

As of September 30, Anthropic reported $146.6 billion in available liquidity, including cash, investments, and undrawn credit facilities, before IPO and private-placement proceeds. While the proposed fundraising could strengthen its financial position, infrastructure utilization, revenue growth, and cash generation will determine how effectively Anthropic can support these commitments. Available credit represents borrowing capacity rather than cash holdings.

6. How Much ANT Stock Could Retail Investors Buy in the IPO?

Anthropic plans to allocate up to 20% of its IPO shares to retail investors, equivalent to 165 million shares worth approximately $12.21 billion at the $74 midpoint. Actual access will depend on participating brokers, geographic eligibility, and final allocations, meaning individual investors are not guaranteed shares.

Retail demand could also be significant after listing. According to Reuters, Vanda Research forecasts approximately $250 million in net retail buying on ANT's first trading day. This estimate refers to secondary-market purchases, not IPO allocations.

Will Lock-Up Periods Affect ANT Stock After the IPO?

Anthropic's amended S-1 outlines three key restrictions affecting when existing shareholders can sell their shares:

180-day lock-up: Applies to certain existing shareholders.
365-day lock-up: Applies to co-founders and some larger holders.
First-day exception: Certain non-founder insiders and employees may sell up to 10% of eligible holdings immediately after listing.

These provisions could affect ANT's share supply and price volatility, particularly when lock-up periods expire. Anthropic's multi-class share structure also gives founders and certain major shareholders different voting rights from public Class A investors.

7. What Are the Best AI Stocks to Buy Ahead of Anthropic's IPO?

Anthropic's rapid expansion is driving demand for cloud computing, AI chips, and data center infrastructure. Investors seeking indirect exposure to Anthropic's growth can buy shares of five major technology partners through BingX Stocks Trading using USDT or USDC.

Amazon (AMZN): AWS is Anthropic's primary cloud and AI training partner, with at least $110 billion in computing commitments through 2036. Growing Claude adoption could support AWS revenue.
Alphabet (GOOGL): Google provides TPU computing capacity, backed by approximately $114.5 billion in Anthropic commitments through 2033.
Microsoft (MSFT): Azure distributes Claude models and supports Anthropic's infrastructure expansion, with at least $44.9 billion in computing commitments.
NVIDIA (NVDA): NVIDIA plans to invest up to $10 billion in Anthropic, while growing AI workloads could increase demand for its advanced GPUs.
Broadcom (AVGO): Broadcom supports Google's custom TPU infrastructure, positioning it to benefit from Anthropic's expanding AI computing requirements.

These stocks provide different forms of exposure to Anthropic's growth, although commercial partnerships and infrastructure commitments do not guarantee future revenue or stock returns.

8. How to Trade Anthropic Pre-IPO Futures on BingX

Eligible traders can access ANTHROPIC-USDT on BingX to trade Anthropic-related price movements before its anticipated Nasdaq IPO. The contract is displayed as ANTHROPIC, rather than the earlier ANTHROPIC (Pre-IPO) name, and differs from ANT, Anthropic's proposed Nasdaq stock ticker. These USDT-margined perpetual futures allow long and short positions but do not provide ownership of Anthropic shares, dividends, or voting rights.

Step 1: Access BingX Futures. Sign up or log in to BingX, complete the required identity verification, and open BingX TradFi. Confirm regional eligibility.

Step 2: Select ANTHROPIC-USDT. Search for ANTHROPIC and open the Anthropic pre-IPO futures contract. Check the latest contract price, trading limits, and specifications.

Step 3: Prepare USDT Margin. Ensure sufficient USDT is available in your Futures account. Use Transfer to move funds from another supported BingX account if needed.

Step 4: Set Leverage and Margin Mode. Select Isolated or Cross Margin, where supported. Review the leverage limits, margin requirements, and estimated liquidation price.

Step 5: Place Your Trade. Choose Open Long or Open Short based on your price expectations. Select an order type, enter your position size, and review the order before confirming.

Step 6: Manage Your Position. Set Take-Profit and Stop-Loss (TP/SL) levels and monitor funding fees, available margin, and price movements as Anthropic approaches its IPO.

Important: ANTHROPIC-USDT futures prices may differ from Anthropic's proposed 70–78 IPO price range and will not automatically convert into ANT shares after listing. Leverage increases liquidation risk, while contract parameters and trading availability may change. For additional instructions, read the Anthropic Pre-IPO Futures Trading Guide.

Trade Anthropic Pre-IPO Futures on BingX

Final Thoughts: What Should Investors Watch Before Anthropic's IPO?

Investors should focus on Anthropic's final IPO price, confirmed valuation, share allocations, and Nasdaq listing date. While the proposed 70–78 price range and strong institutional demand suggest significant investor interest, the final offering terms and post-listing stock performance remain uncertain.

Beyond the IPO, Anthropic's ability to sustain revenue growth, improve profitability, and fund its $900.9 billion infrastructure commitments will be critical to supporting its potential $1.4 trillion valuation. Public float, lock-up expirations, and early trading demand could also influence ANT stock volatility.

Risk Reminder: IPO terms and listing dates may change. ANT shares can trade above or below the offering price, while pre-IPO futures carry leverage, funding costs, and liquidation risks. This article is for informational purposes only and does not constitute investment advice.

FAQs About Anthropic's IPO Price and Valuation

1. What Is Anthropic's IPO Price?

Anthropic's proposed IPO price range is $70 to $78 per share, according to its November 10, 2026 amended S-1 filing. The final offering price has not yet been announced.

2. Could Anthropic Reach a $1.4 Trillion Valuation?

At $78 per share, Anthropic could reach approximately $1.4 trillion in fully diluted valuation, compared with $1.02 trillion based on outstanding shares. The final valuation will depend on the IPO price and share count.

3. When Is Anthropic Expected to Go Public?

Anthropic is reportedly targeting November 19, 2026, for its Nasdaq debut under the ticker ANT, subject to final pricing and regulatory approval.

4. Is Anthropic's IPO Oversubscribed?

Bloomberg reported on November 11 that investor orders exceeded available shares multiple times. However, the final oversubscription level and allocations remain unconfirmed.

5. Can I Buy Anthropic Stock Through BingX Before the IPO?

Eligible users can trade ANTHROPIC-USDT pre-IPO futures on BingX, but these contracts do not provide ownership of Anthropic shares. Availability of ANT stock through BingX Stocks Trading after listing has not been confirmed.