Anthropic Lifts IPO Target Valuation to $1.5 Trillion on Strong Demand
Anthropic's bankers plan to raise the IPO price range after heavy investor demand, lifting the target valuation back above $1.5 trillion. The Tuesday filing set a $70-$78 share range implying $1.26T-$1.41T including options and restricted shares; pricing above that range would push proceeds past $100B, with Google, Nvidia and Microsoft investing $26B at the IPO price. Three backers say Anthropic now prioritizes raising cash over maximizing valuation, given roughly $900B of planned compute and infrastructure spending.
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Rohan Paul (@rohanpaul_ai) · 2026-11-11 00
FT: Anthropic’s bankers plan to raise its IPO price after heavy investor demand, lifting the target valuation back to $1.5T or more.
Tuesday’s filing set a $70-$78 share range, implying 1.41T once employee options and restricted shares are counted.
Pricing above that range would push proceeds past 26B that Google, Nvidia and Microsoft will invest at the IPO price.
Three backers say Anthropic now cares more about raising cash than maximizing valuation, because it plans about $900B of compute and infrastructure spending.
↳ 引用 @rohanpaul_ai (Rohan Paul): Anthropic forges ahead with IPO roadshow They will sell up to 825M shares at $70 to $78 each, a range that values it at as much as $1.4T.
At the top of that range the deal raises about 62.5B from 801M new shares.
Existing stockholders are selling only 23.6M shares, so almost all the cash funds the company instead of letting early investors exit.
Earlier talk had pointed to as much as $2T, and the cut follows a tech selloff and midterm results showing voters souring on AI data centers.
Even reduced, the price sits above the $1.25T private valuation OpenAI reached last week.
Shares are expected to start trading on Nasdaq under the ticker “ANT” as soon as Thursday or Friday next week.
