Anthropic Seeks Up To $88.5B In IPO-Linked Market Debut

Anthropic is seeking to secure up to $88.5 billion through its planned IPO and a concurrent private placement. Crunchbase News reports the combined raise could become the largest-ever fundraise tied to a public market debut. The company submitted an updated S-1 filing on Tuesday with new details, including a proposed share price range and offering size.

For the IPO portion, Anthropic plans to sell just over 800 million shares at $70 to $78 each. At the high end, that would bring in around $62.5 billion; the total offering is 825 million shares, including 23.6 million from selling shareholders. Anthropic also expects another $26 billion from a private placement slated to close immediately after the IPO, with investors including AMD, Broadcom, Google, Micron Technology, Microsoft, Nvidia and TSMC.

The offering could set a fully diluted valuation of up to $1.4 trillion for the San Francisco company. That is below earlier projections, with many investors reportedly forecasting something closer to $2 trillion. Even at $1.4 trillion, Crunchbase News says Anthropic would go public at the second-highest valuation in history, topped only by SpaceX’s June debut. The company is expected to list later this month on Nasdaq under the ticker symbol ANT.

Anthropic updated its financial disclosures with results through September. For the first nine months of the year, it reported $33.2 billion in revenue, up from $2.5 billion in the same period a year earlier. The company said revenue grew from zero at commercial launch in the first quarter of 2023 to $17 billion for the three months ended Sept. 30, 2026. It is not yet profitable: operating loss was $1.3 billion for the first nine months, while net loss widened to $104 billion.