Anthropic Targets Up to $2 Trillion Valuation for Nasdaq IPO
AI powerhouse Anthropic, the San Francisco company behind the Claude AI system, is pressing ahead with what could become the largest technology IPO in history. The company is targeting a valuation of $1.5 trillion to $2 trillion and aims to raise up to $100 billion ahead of Thanksgiving, according to sources cited by the Financial Times.
Anthropic publicly filed its S-1 registration statement with the SEC on October 26, 2026. It plans to list on the Nasdaq under the ticker symbol ANT, potentially as early as the week of November 16.
The company has reported explosive revenue growth:
- Revenue surged 1,300% year over year in the first half of 2026, reaching $16.3 billion.
- Roughly 80% of revenue comes from enterprise customers.
The IPO comes at a pivotal moment for the AI industry. OpenAI, Anthropic’s chief rival, has ruled out going public in 2026, leaving Anthropic as the sector’s last major IPO candidate of the year.
Anthropic was last valued at $965 billion following a $65 billion Series H-1 funding round in May 2026. Its key backers include Amazon, Alphabet, Nvidia and Microsoft.
Amazon’s stake in Anthropic is currently carried at $190.4 billion on its balance sheet. At a $2 trillion IPO valuation, that stake could be worth an estimated $300 billion to $400 billion.
Source: CNN – Anthropic set to make stock market debut as questions swirl about safety of AI