Demand for Anthropic’s Nasdaq listing far exceeds the shares on offer, with pricing due next Wednesday. The deal is the first public test of what investors will pay for a frontier AI lab.


Key details: Anthropic filed an amended S-1 on November 10, 2026, for an IPO of 825 million Class A shares at an estimated $70 to $78 each, with a Nasdaq listing planned as “ANT”. The deal is reported to be about six times oversubscribed. Anthropic plans to price the shares on Wednesday, November 18, and start trading on the Nasdaq on November 19.

The prospectus also lets the underwriters buy 123.75M more shares from Anthropic, which would add about $9.7B.