Anthropic IPO: ANT Price Range, Listing Date and S-1

Anthropic has not announced a pricing date or a first trading day. Its public Form S-1, filed on October 26, 2026, says the sale will begin as soon as practicable after the registration statement becomes effective; the number of shares and the price range are not yet set. Both dates depend on the SEC declaring the registration statement effective and on market conditions. ^[7]

Anthropic is reported to be targeting a listing in the week of November 16, 2026. That is reporting, not an announcement, and the timing is subject to change. ^[8]

Not today. Anthropic is privately held and its shares do not trade on any exchange. Anthropic has applied to list its Class A common stock on the Nasdaq Global Select Market under the symbol ANT, but the shares cannot be sold until the SEC declares the registration statement effective and the offering prices. ^[7]

Before the IPO, private-company shares generally change hands only in secondary transactions limited to accredited investors, and such transfers typically require the company's approval. Products marketed under the Anthropic name are issued by third parties, not by Anthropic, and are not the same as owning Anthropic stock.

Once Anthropic common stock is listed, it can be bought through a brokerage account like any other stock. For 2x long, 2x short or 1x short daily exposure without a margin account, Leverage Shares by Themes has ANUU, ANDD and ANSS on file with the SEC; they cannot begin trading until Anthropic is listed and their registration statements are effective. ^{[5] [6]}

Not yet set. The Form S-1 leaves the price range and the number of shares blank. Both are set in an amended Form S-1 before the roadshow, and the final price is set at pricing. ^[7]

The Wall Street Journal reports the offering could raise $100 billion or more at a valuation between $1.5 trillion and $2 trillion. That is reporting, not company guidance. ^[8]

The most recent company-stated figure is a $965 billion post-money valuation, set by the $65 billion Series H round announced on May 28, 2026. ^[2]

The Form S-1 states no target valuation. The Wall Street Journal reports a range of $1.5 trillion to $2 trillion for the offering. That is a report of private discussions, not company guidance, and the offering has not priced. ^{[7] [8]}

ANT. In its Form S-1 filed on October 26, 2026, Anthropic states that it has applied to list its Class A common stock on the Nasdaq Global Select Market under the symbol "ANT". The symbol becomes active only once the stock is listed. ^[7]

ANUU, ANDD and ANSS are the tickers of the Leverage Shares 2x Long, 2x Short and 1x Short Anthropic Daily ETFs. They are not Anthropic's ticker, and Leverage Shares is not affiliated with Anthropic. ^{[5] [6]}

Revenue of $41 million in 2023, $386 million in 2024 and $4.6 billion in 2025 (audited), and $16.3 billion for the six months ended June 30, 2026, up from $1.2 billion a year earlier (unaudited). A net loss of $80.7 billion for the first half of 2026, of which $72.4 billion is a non-cash change in the fair value of convertible notes, derivative liabilities and SAFEs. Cash, cash equivalents and short-term investments of $131.7 billion at June 30, 2026, and $141.1 billion of capital raised to that date. ^[7]

The filing also names the proposed exchange (Nasdaq Global Select Market), the ticker (ANT) and 22 underwriters led by Goldman Sachs & Co. LLC and Morgan Stanley. The number of shares and the price range are left blank. ^[7]

Before the filing, Anthropic's annualized revenue run rate reached more than $65 billion at the end of July 2026, a figure shared with investors and first reported by Bloomberg. The company itself said the run rate had crossed $47 billion in May 2026. ^{[3] [2]}

Not yet. No ETF can hold Anthropic common stock until it is publicly listed. Leverage Shares by Themes has three Anthropic-linked ETFs on file with the SEC: the 2x Long Anthropic Daily ETF (ANUU), the 2x Short Anthropic Daily ETF (ANDD) and the 1x Short Anthropic Daily ETF (ANSS). Their registration statements are not yet effective and shares are not available for purchase. Please see the preliminary prospectuses for more information. ^{[5] [6]}

ANUU seeks daily investment results, before fees and expenses, of 200% of the daily performance of Anthropic stock. ANDD seeks -200% of the daily performance. ANSS seeks -100% of the daily performance. All three seek their objective for a single trading day and reset daily. For periods longer than a day, returns will very likely differ from 2x, -2x or -1x of Anthropic's return over the same period because of compounding, and the funds can lose money even if Anthropic stock moves in the expected direction over a longer period. The funds do not invest directly in Anthropic stock. ^{[5] [6]}

The funds cannot begin trading until Anthropic common stock is publicly listed and the funds' registration statements are effective. Anthropic's listing date is not yet set; reports point to the week of November 16, 2026, subject to change. Sign up for updates below, or follow the product pages for ANUU, ANDD and ANSS. ^{[5] [6] [8]}