Anthropic is on track to become the biggest public stock offering ever. Bloomberg says investors have placed orders for six times the shares the company will sell. The firm hopes to raise as much as $64.4 billion through the IPO and a further $26 billion in a private placement. If the plan succeeds, the market value of Anthropic would sit around $1.4 trillion, a figure that would dwarf the SpaceX float that was expected to be the previous record.
The company will list on the Nasdaq under the ticker ANT. Existing backers will get the first chance to buy shares, and the private placement includes a $10 billion purchase by Nvidia. Goldman Sachs and Morgan Stanley are handling the listing, while CEO Dario Amodei will appear in a livestream with JPMorgan chief Jamie Dimon to court investors.
What is driving the frenzy?
Anthropic’s revenue numbers are a big part of the story. By the end of October, the firm reported annualized revenue of $81 billion, up from $71 billion just a month earlier. The rapid growth suggests strong demand for its Claude‑series AI models, which compete with other large language models like OpenAI’s GPT‑4. Nvidia’s involvement also signals confidence from a major AI hardware player, even as its own leadership faces turmoil after CEO Jensen Huang’s ouster over an alleged espionage scandal.
How this compares to other tech listings
If Anthropic’s IPO hits its target, it would outsize the most ambitious tech float to date. SpaceX, which many expected to set a new high, was projected to raise around $40 billion. Anthropic’s combined public and private raise could total $90.4 billion, a scale not yet seen on the Nasdaq.
Why it matters
For investors, the size of the offering means more capital will flow into AI development, potentially speeding up new products and services. Employees and customers may see more resources for research, but the high valuation also raises the bar for future AI startups seeking public funding. It remains unclear how the market will react once the shares start trading.
