Anthropic IPO: ANT Shares Priced at US$70–78, When Will They List?

Anthropic's IPO has finally entered the roadshow stage. The developer of Claude AI officially began its initial public offering process on November 10, 2026, with an indicative price range of US$70–US$78 per share. Anthropic plans to list on Nasdaq under the ticker ANT, offering 825 million Class A shares.

The announcement immediately attracted investor attention, particularly amid growing interest in artificial intelligence companies. However, the price range announced by Anthropic is still indicative, not a share price established through exchange trading. Alongside the listing schedule and valuation, investors should also understand the difference between ANT shares and the tokenized rANT product being introduced through the Bitget platform.

Key Takeaways

• Anthropic officially began its IPO roadshow on November 10, 2026, offering 825 million Class A shares.
• Anthropic's indicative IPO price range is US$70–US$78 per share, with ANT proposed as its Nasdaq ticker.
• ANT shares had not begun public trading as of November 11, 2026, while Bitget's rANT is a separate tokenized product.

Anthropic's IPO Officially Enters the Roadshow Stage

Anthropic announced the launch of its IPO roadshow on November 10, 2026, marking another step toward entering the U.S. capital markets.

A roadshow is the stage at which a company and its underwriters present a proposed share offering to prospective investors. Discussions typically cover the business model, financial performance, growth potential, and risks the company may face.

For Anthropic, this stage offers an opportunity to gauge investor interest in the AI business it has built around Claude.

That interest is hardly surprising. In recent years, artificial intelligence has become one of the technology sectors attracting the most investor attention.

Nevertheless, the start of a roadshow does not mean that Anthropic shares are already trading on Nasdaq. The company must still complete several steps before investors can purchase ANT shares on the secondary market.

What Happens After the Roadshow?

After presenting the offering to investors, Anthropic and its underwriters will evaluate the demand they receive.

This process is known as bookbuilding, in which investor demand is one of the factors used to determine the final offering price.

If demand differs from initial expectations, the IPO price range may still be adjusted.

As of November 11, 2026, Anthropic was still in the offering process. According to the company's announcement, the share registration statement filed with the Securities and Exchange Commission (SEC) had also not yet been declared effective.

Investors must therefore wait for the formal process to be completed before the shares begin trading.

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What Is the ANT Share Price at the IPO?

Anthropic has set an indicative IPO price range of US$70–US$78 per share.

These figures provide an initial reference for investors considering participation in the company's initial public offering.

However, it is important to understand that US$70–US$78 is not the final price. The final figure will only be set after the company and its underwriters assess demand and market conditions.

The following summarizes Anthropic's IPO information based on the November 10, 2026 announcement.

Has the ANT Share Price Reached US$78?

Not yet. US$78 is the upper end of the indicative offering price range announced by Anthropic.

It cannot be treated as ANT's market price because public trading has not yet begun.

Three different prices need to be distinguished:

• Indicative IPO price: The initial range used during the offering process, namely US$70–US$78.
• Final IPO price: The price that will be set before the shares begin trading.
• Nasdaq trading price: The price determined by transactions between buyers and sellers after the listing.

This distinction matters. Shares offered at a particular IPO price may open at a higher price when trading begins, but they may also fall below the offering price.

Therefore, as of November 11, 2026, there was no real-time ANT share price from public Nasdaq trading to use as a benchmark.

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When Will Anthropic List on Nasdaq?

Anthropic plans to list its Class A shares on the Nasdaq Global Select Market under the ticker ANT.

Several reports estimate that trading could begin around November 19, 2026. However, this is still an estimate and should not be treated as a confirmed final date.

Several stages must be completed before the listing:

1. Roadshow: The company presents its IPO plans to prospective investors.
2. Bookbuilding: Underwriters collect and evaluate demand for shares.
3. Pricing: Anthropic determines the final offering price.
4. Completion of requirements: The documents and offering process must meet U.S. capital market requirements.
5. Listing: ANT shares begin trading on Nasdaq once all requirements have been met.

Prospective investors should understand the difference between participating in an IPO and buying shares after they are listed.

IPO participation generally depends on access to the offering and allocations made by brokers or underwriters. After listing, investors can trade through brokers that provide access to Nasdaq.

How Many Shares Is Anthropic Offering?

Anthropic plans to offer 825 million Class A shares. However, not all of them are newly issued shares sold directly by the company.

Some shares are being offered by existing shareholders, meaning the proceeds from their sale will not go to Anthropic.

Here is the breakdown of the offering:

This distinction between the sources of shares affects how much money the company actually receives.

Proceeds from shares sold directly by Anthropic may be used for company purposes after offering expenses are deducted. By contrast, proceeds from shares sold by existing shareholders go to those selling shareholders.

The underwriters also have an option to purchase additional shares under the offering terms, up to a maximum of 123.75 million shares.

What Is the Size of Anthropic's IPO Offering?

Based on a price range of US$70–US$78 for 825 million shares, the gross value of the entire offering is estimated at US$57.75 billion to US$64.35 billion.

However, this is not the same as the net proceeds Anthropic will receive.

In addition to some shares being sold by existing shareholders, the company must account for underwriting fees and other IPO-related expenses.

The offering value should also not be confused with the company's valuation. The two figures are calculated on different bases.

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What Is Anthropic's IPO Valuation?

Anthropic's IPO has attracted considerable attention because the company's fully diluted valuation could reportedly reach approximately US$1.4 trillion at the upper end of the offering price range.

The term fully diluted valuation refers to an estimate of a company's value after accounting for all shares that could potentially be outstanding, including instruments convertible into shares.

A fully diluted valuation can therefore differ from market capitalization calculated using only currently outstanding shares.

For investors, valuation is an important factor in assessing whether the offering price is justified by the company's business potential.

The higher the valuation, the greater the market's expectations for Anthropic's ability to increase revenue and expand its business over the long term.

However, a high valuation does not automatically mean the shares will rise after listing.

If the company's growth falls short of investor expectations, its market valuation may change even if the business continues to expand.

Why Is Claude AI's Business Attracting Investors?

Anthropic is known as an artificial intelligence developer whose flagship product is Claude.

This technology serves a wide range of needs, from writing and analyzing documents to assisting with programming, information processing, and work automation.

Anthropic serves more than individual users. It also offers services to businesses and developers through APIs, enabling AI models to be integrated directly into applications and enterprise systems.

This business model is attractive as AI adoption expands across everyday business operations.

Anthropic's Business Growth Opportunities

Companies like Anthropic can generate revenue from subscriptions, enterprise services, and usage-based API access.

If more companies adopt Claude for their daily work, demand for these services could also grow.

However, user growth is not the only factor determining the success of an AI business.

Developing AI models requires substantial computing capacity, data center infrastructure, and ongoing investment.

Anthropic also faces intense competition from other AI companies seeking to develop more capable models at lower operating costs.

That is why investors need to look beyond Claude's popularity.

Revenue growth, profitability, cost efficiency, and customer retention are all important when evaluating the prospects of Anthropic shares.

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How Is Bitget Connected to Anthropic's IPO?

As Anthropic prepares for its IPO, Bitget has also introduced an investment product linked to the company through its IPO Prime service.

However, the product offered by Bitget is not Anthropic stock traded directly on Nasdaq.

The platform offers a tokenized product called Anthropic rToken (rANT), whose mechanisms and terms differ from those of ordinary share ownership.

This distinction matters because the use of the same company name could lead investors to assume the two assets are identical.

What Is the Difference Between ANT Shares and rANT Tokens?

Bitget states that the rANT product is not issued, offered, or managed by Anthropic.

Bitget also does not have an official partnership with, or authorization from, Anthropic for this product.

Therefore, buying rANT should not be equated with directly owning ANT shares.

Investors should review the product terms to understand the underlying assets, the rights they receive, and the available redemption mechanisms.

How Does Bitget IPO Prime Work?

Through the IPO Prime service, eligible users can subscribe to products under the rules established by Bitget.

The platform specifies a minimum commitment of US$100, with allocation rules and fees that may vary by user category or offering round.

However, depositing funds does not guarantee that users will receive the full amount of assets they request.

The process may involve temporarily locking funds, distributing allocations, and refunding unused funds in accordance with the platform's terms.

Users should also consider the risks associated with changes to the IPO schedule or adjustments to the product's mechanics.

Before participating in such an offering, it is therefore important to understand exactly what is being purchased, how the assets are managed, and what rights users have.

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How to Buy Anthropic Shares

To buy Anthropic shares directly, investors need to use a broker that provides access to the U.S. stock market.

However, access to shares during an IPO differs from ordinary trading after a listing.

Not all brokers provide opportunities to participate in an IPO allocation. Even when access is available, investors may receive fewer shares than they request.

Here are some steps to consider:

1. Check IPO developments. Make sure the final price, listing schedule, and offering status have been officially announced.
2. Choose a broker with Nasdaq access. Check its licenses, reputation, and terms for investors in Indonesia.
3. Understand the purchase requirements. Find out whether the broker offers IPO access or only trading after the shares are listed.
4. Account for costs. In addition to commissions, consider exchange rates, currency conversion fees, and any applicable tax obligations.
5. Read the prospectus. Evaluate the company's financial position, valuation, business risks, and the rights attached to its shares.

Keep in mind that access to U.S. shares does not automatically mean an investor can participate in every IPO in the country.

For Indonesian investors, requirements also depend on broker policies, residency, and applicable regulations.

If you want to follow technology company IPOs, asset tokenization, and crypto market news, you can sign up for Bittime to explore the latest market information and analysis.

What Are the Risks of Investing in ANT Shares?

An IPO by a major AI company may attract attention, but growth opportunities always come with risks.

Prospective Anthropic investors should consider several factors before making a decision.

1. An Already Very High Valuation

Anthropic's estimated US$1.4 trillion valuation reflects high expectations for its business growth.

If the company fails to meet market expectations, its share price could come under pressure even if revenue continues to rise.

2. Volatility After Listing

IPO shares often experience sharp price movements in early trading.

Strong demand can push prices higher, but profit-taking and changes in sentiment can also trigger a correction within a short period.

An opening price above the IPO price therefore does not guarantee a profit for investors who buy after the listing.

3. AI Technology Development Costs

Developing AI models requires substantial investment in computing, skilled personnel, and infrastructure.

These costs can affect profitability, especially if revenue growth fails to keep pace with investment needs.

4. Competition and Regulation

Anthropic operates in a rapidly evolving industry.

New AI models, changing customer needs, and policies concerning security and data use can affect the company's market position.

5. Tokenized Product Risks

Investors considering rANT face additional risks that differ from those of ordinary shareholders.

Beyond changes in the underlying asset's value, they need to consider platform terms, custody, liquidity, and potential restrictions on redemption or transfers.

These risks mean tokenized products cannot be assessed solely on the basis of Anthropic's business prospects.

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What Should Investors Monitor After the Roadshow?

Two developments are particularly important following the start of Anthropic's roadshow: the final IPO pricing and confirmation of the date ANT shares will begin trading on Nasdaq.

Investors should also monitor the SEC registration process, any changes in the number of shares offered, and the market's response to the company's valuation.

Once trading begins, attention will shift to the opening price and trading activity in the secondary market.

These movements may provide an early indication of how investors value Anthropic relative to expectations formed during the IPO process.

Meanwhile, users of tokenized products such as rANT should separately monitor platform announcements about allocations, distributions, and product terms.

Information about ANT shares on Nasdaq does not automatically apply to rANT tokens, and vice versa.

Conclusion

Anthropic's IPO is a significant development in the technology sector, with the developer of Claude officially beginning its roadshow on November 10, 2026.

With an indicative price range of US$70–US$78 per share, Anthropic plans to list its Class A shares on Nasdaq under the ticker ANT. However, the final price and listing schedule still require official confirmation.

The size of the offering and the company's valuation reflect investor interest in the development of artificial intelligence. Nevertheless, attractive business prospects do not eliminate the risks of a high valuation, technology competition, and post-listing share price volatility.

Prospective investors should also understand the difference between ANT shares and the tokenized rANT product before considering how to invest.

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FAQ

What Is Anthropic's IPO Share Price?

Anthropic announced an indicative price range of US$70–US$78 per share for the roadshow that began on November 10, 2026. The final price had not been announced as of November 11 and may change based on the outcome of the offering process.

When Will Anthropic Begin Trading on Nasdaq?

Anthropic shares are estimated to begin trading around November 19, 2026. However, this remains an estimate and is subject to official confirmation from the company and the exchange.

What Is Anthropic's Stock Ticker?

Anthropic has proposed ANT as the ticker for its Class A shares planned for listing on the Nasdaq Global Select Market. This ticker is different from rANT, a tokenized product related to Anthropic that is offered through Bitget.

Can ANT Shares Be Purchased Yet?

As of November 11, 2026, ANT shares were not yet available for public trading on Nasdaq. Participation during the IPO process depends on broker access, allocation rules, and applicable investor eligibility requirements.

What Is the Difference Between ANT Shares and rANT Tokens on Bitget?

ANT is the proposed ticker for Anthropic's official shares, while rANT is a tokenized product offered through Bitget. Owning rANT does not automatically grant the same rights as directly owning Anthropic shares, so investors should review the product terms before investing.