According to its updated filing with the US Securities and Exchange Commission (SEC), Anthropic plans to issue 825 million shares. If priced at the top of the range, the IPO could generate approximately $64.35 billion. The company is expected to list on the Nasdaq under the ticker symbol ANT later this month.
The proposed valuation marks a sharp rise from the $965 billion figure announced during its May funding round.
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Political and Economic Risks Create IPO Uncertainty
Despite strong interest in artificial intelligence, Anthropic’s proposed valuation faces several challenges. Political developments in the US have raised concerns about the future expansion of AI infrastructure, particularly large data centres that require significant computing capacity and electricity.
In addition, investors are watching interest rates closely. Higher borrowing costs could make large infrastructure projects more expensive and put pressure on technology companies.
Some Anthropic investors have also reportedly questioned whether the company can achieve its ambitious valuation targets. Although the company previously considered a $2 trillion valuation, doubts have emerged about reaching even $1.5 trillion.
Anthropic IPO Follows SpaceX’s Record Listing
Anthropic’s planned stock market debut comes around five months after SpaceX raised $85.7 billion through its record-breaking IPO.
Founded in 2021 by CEO Dario Amodei and former OpenAI researchers, Anthropic has become a major competitor in the generative AI industry. Its best-known products are the Claude family of AI models, which provide AI-powered services to businesses.
New Claude AI Models Announced Before IPO
Ahead of its expected listing, Anthropic introduced two new models, Claude Fable 5.2 and Claude Mythos 5.2. The company said both models underwent extensive safety testing and alignment assessments.
It also introduced additional evaluation systems and monitoring tools to track their performance after launch.
Revenue Surges, but Heavy Losses Remain a Concern
Anthropic reported revenue of $33.24 billion for the nine months ending September 30, up about 1,200% from the same period last year.
However, its financial results also showed a substantial net loss of $104 billion, up from $25.1 billion in the same period in 2025. Anthropic said much of the latest loss resulted from changes in the fair value of convertible notes and derivative liabilities.
As the IPO approaches, investors will closely examine the company’s rapid revenue growth, rising losses and substantial spending requirements. Its ability to turn strong AI demand into sustainable profits could play a major role in determining whether its proposed valuation is justified.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice.
