On November 10, 2026, Anthropic, PBC began a roadshow in connection with a proposed initial public offering of its Class A common stock.
The proposed offering comprises 825,000,000 shares of Class A common stock. Of those shares, Anthropic is offering 801,351,354 shares and certain existing stockholders are offering 23,648,646 shares. Anthropic will not receive any proceeds from the shares sold by the selling stockholders.
Anthropic also expects to grant the underwriters a 30-day option to purchase up to an additional 123,750,000 shares of its Class A common stock.
The initial public offering price is expected to range between $70.00 and $78.00 per share. Anthropic has applied to list its Class A common stock on the Nasdaq Global Select Market under the symbol "ANT."
The offering will be made only by means of a prospectus. Copies of the preliminary prospectus may be obtained from Goldman Sachs & Co. LLC (Attention: Prospectus Department, 200 West Street, New York, NY 10282; telephone: (866) 471-2526; email: prospectus-ny@ny.email.gs.com) or Morgan Stanley & Co. LLC (Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014).
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. Today's announcement does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Why it matters
If completed, the transaction would represent a substantial public offering for Anthropic and could provide liquidity for existing shareholders while raising capital under public markets. Final timing and pricing depend on the registration statement becoming effective and market conditions.
