Anthropic’s debut on public markets will be unlike any that’s come before it, in ways that amount to either a once-in-a-generation opportunity — or a massive financial gamble, depending on whom you ask.
The startup behind the Claude AI assistant on Tuesday set a share price range of $70 to $78 for its initial public offering. If it prices at the midpoint, Anthropic would raise $61 billion in its IPO and have a fully diluted valuation of $1.33 trillion. At the top of the price range, Anthropic would raise $64.4 billion and be valued at $1.4 trillion.
The IPO is expected to take place late next week, two sources with knowledge of the situation told CNN, although they cautioned the date could move. Anthropic declined to comment on the timing.
There will be no analog to measure Anthropic’s performance against when it begins trading. The market has simply never seen a dedicated AI model developer go public. It is rare for a business to IPO as a public benefit corporation and, other than SpaceX, it is unheard of for any company to go public with a target valuation above $1 trillion.
Anthropic’s IPO, expected to begin marketing to investors this week, is unconventional by almost any measure. The company promised in its pre-IPO regulatory filing that its technology would “bring forth an age of miracles” while simultaneously warning it may doom humanity. Still, the promise of a once-in-a-generation technological revolution (even with 90 pages of warnings and caveats in its more-than-300-page filing) could make Anthropic the biggest IPO in history.
But there are other financial superlatives and quirks — not to mention persistent cold feet about AI on Wall Street — that will keep many investors on the sidelines.
READ MORE: https://lite.cnn.com/2026/11/10/investing/weve-never-seen-anything-like-anthropic-ipo
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