The Anthropic IPO explained: dates, price range, ticker ANT, and what the S-1 filing says about compute

An initial public offering, or IPO, is the first time a company sells its shares to the general public, so that anyone can buy and sell them on a stock exchange. Anthropic, the company that makes the Claude models, has started that process. It has filed a registration statement with the US Securities and Exchange Commission, the SEC, and on 10 November 2026 it filed the second amended version, which is the one that carries the price range.

The filing says Anthropic plans to sell 801,351,354 shares of its Class A common stock, and some existing shareholders plan to sell another 23,648,646, for a total of 825,000,000. The estimated price is between $70.00 and $78.00 a share, and Anthropic has applied to list the stock on the Nasdaq Global Select Market under the symbol ANT. At those prices the 825 million shares come to between $57.75 billion and $64.35 billion before fees.

Anthropic also launched a website for the offering, ipo.anthropic.com, which it filed with the SEC as a free writing prospectus. It says the roadshow, the series of meetings where the company presents to investors, started on 10 November, that the final price is expected to be set on 18 November, and that shares are expected to start trading on 19 November, all in US Eastern time and all subject to regulatory clearance.

In the United States, the IPO website says you request shares through a participating brokerage: you need an active account there and you submit an indication of interest. The filing names the platforms that will offer part of the shares to individual investors: Charles Schwab, Fidelity, Robinhood, Trade-PMR, SoFi and E*TRADE from Morgan Stanley. The website is plain that nobody is guaranteed shares, and that you should be ready to buy all the shares you ask for. Your broker confirms any allocation on the first trading day.

Outside the United States, Anthropic's filings with the SEC show separate retail offers in several countries. A prospectus approved by Germany's financial regulator covers Germany, Denmark, Finland, France, Ireland, the Netherlands, Norway, Spain and Sweden, and was also filed in Switzerland. There is a UK retail offer through a platform called RetailBook, an Australian prospectus, a Canadian prospectus, and a Japanese registration statement.

India is not on that list. The prospectus says it has not been and will not be registered or reviewed in India, including by the Securities and Exchange Board of India, and that the offering is not an offer of securities to the public in India. Once the shares trade on Nasdaq, the IPO website explains, anyone who buys does so at the market price of the moment rather than the offering price. Whether and how you can buy US shares from India is a question for your broker and your own advisers, and nothing on this page is investment advice.

Buying ANT shares buys a share of the profits, but not much of a say. Anthropic is a public benefit corporation, which means its directors must balance shareholders' financial interests with the interests of people affected by the company and a stated public purpose: the responsible development and maintenance of advanced AI for the long-term benefit of humanity.

The filing describes five classes of common stock. Class A is what the public buys, with one vote a share. Class T is held by the Long-Term Benefit Trust, a body of trustees with no financial stake, and it elects the Class T directors, who will be a majority of the board. A single share of Class F goes to a company owned by Dario Amodei, Daniela Amodei and the five other people who started Anthropic, and it carries 50.1% of the votes on other shareholder matters, including electing the remaining directors. Class E goes to employees and votes only on limited matters. Class N, held mainly by strategic partners, has the same economics as Class A but no vote.

Because one holder controls more than half the votes, Anthropic will be a controlled company under Nasdaq's rules, which lets it skip some of the usual board requirements. The filing says it expects to use that only for one committee, the nominating and corporate governance committee, which will not consist entirely of independent directors. For a reader, the plain meaning is this: public shareholders get the economics, and the trust and the people who started the company keep the decisions.

The SEC must declare the registration statement effective before any shares can be sold. If the timetable on the IPO website holds, the price will be set on 18 November and the stock will start trading on Nasdaq on 19 November, US Eastern time, which is the evening of 19 November in India. The final price can land inside the range, above it or below it, and the share count can change.

We will update this page with the final price and the first day of trading. For engineers, the more lasting thing to watch is the quarterly reports a public company must file. From now on, the cost of running one of the largest AI services in the world will be published every three months.

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