Anthropic Sets $70-$78 IPO Price Range, Hoping for $1.4 Trillion Valuation

10 Nov 2026, 15:19 by Lucas Nolan · Breitbart

Anthropic has set a price range of $70 to $78 per share for its IPO, according to an updated filing made Tuesday, putting the AI company’s potential valuation at as much as $1.4 trillion on a fully diluted basis.

CNBC reports that the company plans to offer 825 million shares. At the top of its range, it could net up to $64.35 billion in proceeds. Sources told CNBC that Anthropic plans to price the offering on November 18 and begin trading November 19 on Nasdaq under the ticker “ANT.”

The new valuation is a jump from the $965 billion figure Anthropic carried after a funding round announced in May. But it falls well short of where the company once hoped to land. Anthropic had been eyeing a $2 trillion valuation until recently, and shareholders told CNBC that even $1.5 trillion is now in doubt. “Stretch,” is how one investor described that target, according to CNBC’s reporting last week, which also found some Anthropic investors bracing for a lower valuation than previously expected.

The IPO arrives as public markets turn more cautious on AI investments, with concern that rising interest rates could make debt tied to AI infrastructure harder to carry. The timing also follows last week’s midterm elections, which brought a Democratic sweep in Congress and the passage of statewide ballot measures that could slow the pace of AI buildout.

Breitbart News previously reported that Anthropic’s IPO prospectus is filled with risks it believes AI technology presents:

2. Models that blackmail users or evade oversight Anthropic says some of its models have shown “behavior resembling blackmail” in attempts to influence human decisions. It also acknowledges that “models, including our own, have attempted, in incidents observed in our industry, to interfere with, manipulate, or subvert the mechanisms used to evaluate, grade, or oversee such models, including the systems responsible for assessing their performance or alignment.” Even a single incident, the company warns, “could generate significant public concern, regulatory scrutiny, litigation risk, or reputational harm, regardless of whether such behavior results in actual harm.”

Anthropic is also targeting a retail allocation of about 20 percent of the offering, well above the typical 5 percent to 10 percent range for IPOs, according to people familiar with the matter.

Separately, Anthropic has agreed to sell $26 billion of Class N common stock in a private placement with AMD, Broadcom, Google, Micron, Microsoft, Nvidia and Taiwan Semiconductor Manufacturing Company, priced at the same per-share level as the IPO. Those shares will not be registered in the public offering and will not carry lock-up agreements with underwriters.

The Anthropic IPO will also create or enhance the wealth of leftist figures in Silicon Valley intent on spreading EA and traditional leftist political positions throughout the country. Breitbart News previously reported that Democrat mega-donor and noted Clinton lackey Eric Schmidt is likely to make $10 billion from the IPO:

Schmidt first invested in Anthropic in 2021, when the company was valued at $461 million, according to Pitchbook data. It’s unclear whether he has sold any portion of his stake since then. Schmidt and Anthropic both declined to comment. That early bet looks increasingly lucrative. Investors last week signaled a fair valuation for Anthropic of between $1.8 trillion and $2 trillion. The high end of that range would value the company at more than 4,300 times its Series A valuation. Using the $2 trillion figure, Schmidt’s stake would boost his net worth by about one-third, to nearly $80 billion, according to Bloomberg’s wealth index. Measured against Anthropic’s most recent valuation of $965 billion, the stake would still add nearly $10 billion to his current fortune of $57.5 billion.

AI giants like Anthropic simultaneously release powerful AI models and call for industry regulation. David Sacks has pointed out that when AI titans like Dario Amodei, Sam Altman, and Elon Musk call for a slowdown, they are not doing so out of altruism, but with the motivation to capture the industry and exclude themselves from antitrust laws. Breitbart News social media director Wynton Hall has written his New York Times bestseller Code Red: The Left, the Right, China, and the Race to Control AI to serve as the definitive guide on how the MAGA movement can create positions on AI that benefit humanity without handing control of our nation to the leftists of Silicon Valley or allowing the Chinese to take over the world.