Anthropic sets $70–$78 IPO price range ahead of November 19 Nasdaq debut

what happened

According to Stocktwits, the AI company Anthropic has set a price range of $70 to $78 per share for its initial public offering. The company and some current shareholders plan to sell 825 million shares, raising as much as $64.4 billion. The shares are expected to begin trading on Nasdaq on November 19 under the ticker ANT.

Patrick Moorhead, CEO of Moor Insights & Strategy, wrote on X that the implied valuation sits between $916 billion and $1.02 trillion, or $1.2 to $1.3 trillion on a fully diluted basis. Reuters and CNBC put the higher end at $1.4 trillion. Moorhead said the key question for investors is whether annualized revenue of $81 billion can support a commitment to spend $900.9 billion over the next decade.

why it matters

The offering is widely seen as a test of investor appetite for AI-related companies. Quarter-over-quarter revenue growth slowed to 47% in the third quarter from 144% in the second, which made some investors nervous. A large new supply of shares could weigh on demand for already listed tech stocks, while a strong debut could lift sentiment across the AI sector and the Nasdaq.

market impact

AI stocks and Nasdaq: a large listing will test sector demand, with effects pulling in both directions

• ↔AI stocks mixed — a strong debut would support interest, but a large new share supply could draw capital away

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instruments