Anthropic kicks off IPO roadshow at $1.4T valuation, down from $2T
量子位 · wechat · 2026-11-11
Anthropic has officially launched its IPO roadshow, offering 825 million shares at $70–78 each for a deal size of up to $64.35B, with Nasdaq trading under ticker ANT starting Nov 19. Amid a broad AI market selloff, its valuation shrank from a previously discussed $2T to about $1.4T fully diluted, and early shareholders could sell up to $24.6B of stock on day one.
Q3 revenue hit $16.956B (up over 12x YoY) with an annualized run rate of $81B and 900% net revenue retention, but compute costs rose to 58% of revenue and adjusted operating margin fell to 15%. The company has signed $900B in compute commitments. Google and Nvidia are each putting $10B into a $26B concurrent private placement, bringing total fundraising to nearly $90.4B.
Related event: Anthropic Launches IPO Roadshow, Targeting Up to $1.4 Trillion Valuation(30 posts)→
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