Anthropic (ANT) IPO valuation tracker: every reported figure
Anthropic hasn't set an IPO price. This page dates and sources each valuation figure major news outlets have reported since its last priced round, and shows what its filing still leaves blank.
Checked · newest report Nov. 6, newest S-1 amendment Nov. 2
What investors have discussed, by date
The scale starts at $0.8 trillion. The line runs through the middle of each reported range. Bloomberg's Nov. 6 bar has a tail down to the $1.1 trillion some buyers were weighing. On phones the chart starts in late September; the table has every row.
Kalshi odds on the timing
Chart: before Dec. 1, the midpoint of the Yes bid and ask at each day's close. Kalshi prices as of Nov 8, 2:01 AM ET.
The before-Dec. 1 contract traded between about 58% and 72% for most of Nov. 6, then jumped to about 80% in the late afternoon and evening. Bloomberg reported that day that formal marketing to investors would start the following week, and CNBC that the roadshow was expected to begin then.
These contracts price when, not how much. Each resolves Yes if, before its date, the SEC declares the S-1 effective, the IPO is priced, or an exchange assigns a ticker.
What the filing still leaves blank
The Nov. 2 amended S-1 is the newest registration statement on EDGAR. It has the sentences for these numbers, without the numbers:
Run-Rate Revenue isn't reported revenue. Anthropic multiplies the last 28 days of consumption fees by 13 and monthly subscription fees by 12. The filing says the measure “is not a substitute for revenue prepared in accordance with GAAP or a forecast of revenue.”
The Wall Street Journal reported the run rate topped $80 billion at the end of October. Anthropic hasn't published that figure. At $80 billion, $1.2 trillion to $1.3 trillion would be about 15 to 16 times the run rate, by our calculations. Our Nov. 6 report has more on the blank.
A share price can't be turned into a valuation until a share count is filed. The Journal reported Anthropic is expected to propose a price range, unlike SpaceX, which named a single price. We'll add the range to the chart when it's filed.
Every figure, newest first
| Date | Figure | Type | Who | Source |
|---|---|---|---|---|
| Nov. 6 | $1.2 trillion to $1.3 trillion, some as low as $1.1 trillion | Investor talk | Prospective buyers. Bloomberg said no final decisions had been made. | Bloomberg, our report |
| Nov. 6 | $1 trillion to $1.25 trillion | One investor | One unnamed investor called that a more likely target, adding that it could change with market conditions. CNBC also quoted an investor calling $1.5 trillion a stretch. | CNBC |
| Nov. 6 | $1.25 trillion to $1.75 trillion | Investor talk | Investors, describing the valuation at which Anthropic plans to raise $80 billion to $100 billion. One large investor expected a conservative price of about $1.5 trillion. Not plotted, to keep the Nov. 6 bars readable. | Financial Times, via Seeking Alpha |
| Nov. 5 | Closer to $1 trillion | One investor | One of three investors planning to take part, who said the price would likely need to come down. | The Wall Street Journal, via Decrypt, our report |
| Nov. 2 | Around $1.5 trillion to $1.6 trillion | Investor talk | Institutional investors pushing for a lower price. The Journal said Anthropic hadn't settled on a target. | The Wall Street Journal, via investingLive |
| Oct. 26 | $1.5 trillion to $2 trillion | Investor talk | People familiar with the matter, on the day Anthropic filed its public S-1. The Journal said the IPO could raise $100 billion or more. | The Wall Street Journal, via Investing.com |
| October | $1.4 trillion to $1.5 trillion | Investor talk | Investors' fair-value estimates, given to the IPO bankers after a company briefing on its latest financials in October. Bloomberg recapped the range on Nov. 6; we didn't find the date of its first report, so this row isn't plotted. | Bloomberg, via Yahoo Finance |
| Oct. 15 | About $1.5 trillion | Investor talk | Some current and prospective investors who attended the Oct. 14 investor day. | Reuters, via Investing.com, our report |
| Oct. 1 | $1.8 trillion to $2 trillion | Investor talk | Some prospective investors' estimates of fair value. | Bloomberg, our report |
| Sept. 28 | More than $2 trillion | Investor talk | Reuters, which reviewed a confidential IPO prospectus, described an offering at a valuation above that. The figure is Reuters' description, not a target in the prospectus. | Reuters, our report |
| Aug. 21 | Up to $2 trillion | Investor talk | The IPO's underwriters, who discussed raising more than $100 billion with potential investors. Not plotted; it matches the Aug. 13 figure. | The New York Times, via Kyunghyang Shinmun |
| Aug. 13 | At least $2 trillion | Investor talk | Six Anthropic backers' own models. The FT said executives hadn't set a target, even in private. | Financial Times, via PYMNTS, our report |
| Aug. 13 | $3 trillion | One investor | One investor's arithmetic, not a target: a 30-times-revenue multiple for a company growing 800% a year. Not plotted; it's off the chart's scale. | Financial Times, via Quartz |
| May 28 | $965 billion post-money | Priced round | The $65 billion Series H. This is the only priced figure here. | Anthropic |
Only the May figure is from a priced deal. The rest are discussions reported by each outlet, and they don't all describe the same group of investors. “Via” means we read a republished or summarized version, not the paywalled original.
Common questions
- What is Anthropic's IPO valuation?
- Anthropic hasn't set one. The newest reports came on Nov. 6: Bloomberg said prospective buyers were discussing $1.2 trillion to $1.3 trillion, with some weighing as little as $1.1 trillion, and the Financial Times, citing investors, said Anthropic planned to raise $80 billion to $100 billion at $1.25 trillion to $1.75 trillion. Anthropic declined to comment to Bloomberg.
- What was Anthropic's last priced valuation?
- $965 billion post-money, in the $65 billion Series H announced May 28, 2026. It's the only priced figure on this page.
- Has Anthropic filed an IPO price range?
- No. The Nov. 2 amended S-1 leaves the price range and share count blank, and EDGAR showed no later amendment when this page was last checked.
- What is the blank run-rate number in Anthropic's S-1?
- The amended filing has a sentence for Run-Rate Revenue as of Oct. 31, 2026, with no number in it. Anthropic calculates the measure by multiplying the last 28 days of consumption fees by 13 and monthly subscription fees by 12. The filing says it isn't a substitute for GAAP revenue or a forecast.
- Do Kalshi's Anthropic odds show the valuation?
- No. The contracts on this page are about timing. Each resolves Yes if, before its date, the SEC declares the S-1 effective, the IPO is priced, or an exchange assigns a ticker.
- When will Anthropic go public?
- Anthropic hasn't announced a date. Bloomberg reported on Nov. 6 that formal marketing to investors would start the following week, and CNBC that the roadshow was expected to begin then. The Wall Street Journal reported on Nov. 2 and Nov. 5 that Anthropic was aiming for the week before Thanksgiving, and Thanksgiving is Nov. 26.
Related: Anthropic stock and IPO hub, AI IPO tracker, AI compute commitments. Not investment advice.