Summary:

Anthropic's November 10 roadshow sets out a proposed price range and share count. Most of the base offering would be company-issued shares; final pricing and trading remain ahead.

Anthropic launched its IPO roadshow on November 10, proposing 825 million Class A shares at $70–$78 each. The company has applied for a Nasdaq Global Select Market listing under ANT. Its registration statement is not yet effective, according to the official announcement.

Most shares would be sold by Anthropic

Anthropic would offer 801,351,354 shares; existing stockholders would sell 23,648,646. The company receives no proceeds from those stockholder sales. A proposed 30-day underwriter option covers another 123,750,000 shares.

Multiplying the base share count by the proposed price endpoints gives a gross offering value of $57.75 billion to $64.35 billion, before fees and excluding the option. The company-offered portion alone works out to approximately $56.09 billion to $62.51 billion. Those calculations distinguish the whole transaction from money attributable to Anthropic's own shares.

What the numbers mean

The chart shows the base offering's composition, rounded to one decimal place: about 97.1% company-offered shares and 2.9% stockholder shares. It does not show the ownership of the entire company after listing. Likewise, an offering's gross value is not the company's total valuation: calculating that requires the relevant total share count, not just shares offered for sale.

A new milestone, with pricing still ahead

This adds proposed pricing and volume to the earlier S-1 filing coverage, which focused on financial disclosures and governance. A roadshow is the investor-marketing stage of a proposed offering. The price range is not a final sale price, and the announcement does not establish that public trading has begun.

Next to watch: the effective registration statement, final pricing and confirmation of trading. These terms are proposed as of November 10, 2026.

Sources

Anthropic: roadshow announcement, November 10, 2026. Original PromptsZone chart and arithmetic use the announced share counts and price range; figures are rounded where noted. This article reports the proposed offering, not an investment recommendation.