Anthropic has submitted its S-1 filing with the Securities and Exchange Commission (SEC), paving the way for the company to go public in the near future. While the company hasn’t announced the exact date of its initial public offering (IPO), some estimates suggest it will begin marketing its stock to prospective investors during the week of Nov. 9 and then make its public debut roughly a week later.
The IPO will be facilitated by Goldman Sachs and Morgan Stanley, and the marketing process will involve these underwriters and Anthropic’s team promoting its stock to institutional investors and other large potential buyers. Signs heavily point to the company’s stock going public in mid-November, and the IPO could be one of the biggest events for the stock market this year.
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Anthropic’s IPO is poised to be a huge moment for the market
Anthropic’s prospectus filing showed that the business recorded $16.3 billion in sales in the first half of 2026. For comparison, the business posted sales of just $1.2 billion across the same period last year. On the other hand, the company’s net loss also expanded dramatically — rising to $80.7 billion from roughly $13 billion.
Notably, Anthropic did not outline the listing price for its IPO, how many shares will be offered in the first publicly available tranche, or the number of outstanding shares it will have. As a result, it’s not clear what valuation the company will be aiming to go public at or how much it’s aiming to raise in its public debut.
Anthropic’s IPO will have plenty of excitement and demand, but some reports suggest the company will target a valuation significantly below the roughly $2 trillion market cap at which it was previously expected to go public. More recent estimates suggest the company could list its stock at a price that would value it at closer to $1.5 trillion.
Earlier this year, Space Exploration Technologies set records for the most money raised in an IPO and the highest valuation at its public debut. SpaceX listed its stock at $135 per share, valuing the company at $1.77 trillion, and ultimately raised $85.7 billion in funding through the sale of stock.
While it looks like Anthropic may price its stock at a level that puts its market cap below the record set by SpaceX, the artificial intelligence model leader could wind up selling more shares to help finance the massive computing investments it has planned. As with SpaceX, Anthropic’s stock performance could have meaningful implications for the strength of the artificial intelligence trade and the health of the broader market.
