Anthropic targets valuation of about $1 trillion in IPO

Anthropic PBC sees an IPO of 825 million shares of Class A common stock, with the estimated IPO price per share between $70 and $78, according to an SEC filing. The company is selling 801,351,354 shares of Class A common stock, and selling stockholders are selling an additional 23,648,646 shares.

Anthropic has entered into agreements with partners AMD, Broadcom, Google, Micron, Microsoft, Nvidia, and TSMC, who will purchase $26.0 billion of its Class N common stock in a private placement.

Its run-rate revenue was approximately $81 billion as of October 31, 2026, up $10 billion from September 30, 2026. The company targets a valuation of about $1 trillion in the IPO, and board members and affiliates have indicated interest in purchasing up to $303.0 million of Class A shares in the IPO at the offering price.