Anthropic plans to begin trading its Class A shares on Nasdaq on November 19 or 20, 2026, under the ticker ANT. The company behind the Claude large language model filed a Form S-1 with the Securities and Exchange Commission and is expected to announce an initial valuation range of approximately $1.1 trillion to $1.75 trillion early this week. It is seeking to raise $80 billion to $100 billion or more, with Goldman Sachs and Morgan Stanley leading a syndicate of 22 banks. Revenue reached approximately $33.2 billion over the first nine months of 2026, but Anthropic also reported an $80.7 billion net loss, primarily due to non-cash adjustments, and operational cost commitments approaching $895 billion. The proposed valuation is below earlier estimates of $1.5 trillion to $2 trillion, reflecting slower revenue growth, heightened scrutiny of the AI sector and substantial operating commitments.
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