Is Anthropic publicly traded?

Not yet. As of 28 October 2026 Anthropic is a private company. It filed its public Form S-1 on 26 October 2026 and applied to list on the Nasdaq Global Select Market under the symbol ANT; shares and price range are not yet set (SEC EDGAR).

When is the Anthropic IPO?

Anthropic has not announced a date. The S-1 filed on 26 October 2026 leaves the price range and the share count blank (SEC EDGAR). A roadshow from 9 November and pricing in mid-November were reported by IFR (17 to 23 October 2026), and a mid-November debut by CNBC (26 October 2026). All of that relies on unnamed sources, and the dates can change.

Can you buy Anthropic stock?

Not on a stock exchange before the listing. Anthropic says transfers not approved by its board are void (Anthropic Help Center, 29 June 2026). Indirect exposure exists through a few funds that report small positions and through listed investors such as Amazon and Alphabet.

What is Anthropic's latest valuation?

965 billion dollars post-money, set by the 65 billion dollar Series H announced on 28 May 2026 (Anthropic). Figures of 1.5 to 2 trillion dollars are reported targets for the IPO, not prices (Reuters, 19 October 2026).

How much revenue does Anthropic make?

Anthropic said its run-rate revenue crossed 47 billion dollars in May 2026 (Anthropic). It told investors that third-quarter revenue was 16.8 billion dollars, up from 11.6 billion in the second quarter, according to one attendee of its 14 October investor day (Reuters, 15 October 2026). The company has not published these quarterly figures.

Shareholders include employees and the investors in its funding rounds. The Series H was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital and included 5 billion dollars from Amazon (Anthropic, 28 May 2026); Alphabet's Google is also an investor (Reuters, 15 October 2026). The full ownership table will appear only in a public prospectus.

Anthropic: valuation, revenue and the road to an IPO

By Unicorn Private Research. Published 26 September 2026, last updated 28 October 2026.

Key takeaways

Anthropic is not publicly traded. Its last primary round valued it at 965 billion dollars post-money, announced on 28 May 2026 (Anthropic).
Confirmed: Anthropic filed its public Form S-1 with the SEC on 26 October 2026. It has applied to list on the Nasdaq Global Select Market under the symbol ANT; the number of shares and the price range are not yet set (SEC EDGAR, 26 October 2026). The confidential draft had gone in on 1 June 2026 (Yahoo Finance).
Confirmed in the prospectus: revenue of 16.3 billion dollars in the six months to 30 June 2026, against 1.2 billion a year earlier; net loss of 80.7 billion dollars, of which 72.4 billion from changes in the fair value of convertible notes, derivative liabilities and SAFEs (SEC EDGAR, 26 October 2026). Reported, not confirmed: a roadshow from 9 November and pricing in mid-November, raising up to 100 billion dollars at a valuation of 2 trillion dollars (IFR, 17 to 23 October 2026); some investors argued for about 1.5 trillion dollars (Reuters, 19 October 2026).
Third-quarter 2026 revenue was 16.8 billion dollars, up from 11.6 billion dollars in the second quarter, according to one attendee of Anthropic's investor day on 14 October (Reuters, 15 October 2026). The company has not published the figure.

Anthropic's Series H, announced on 28 May 2026, valued it at 965 billion dollars post-money. That is above OpenAI's last round at 852 billion dollars. Anthropic is also further down the road to a listing: on 1 June 2026 it submitted a confidential S-1 to the United States Securities and Exchange Commission. Everything published since then about the date and size of the listing is press reporting, and this page keeps the two apart.

The reported valuations, and who reported them

Six numbers get quoted for Anthropic, and they are not the same kind of number. The first three are prices at which shares really changed hands. The last three are press reports about a listing that has not been priced.

Figure	What it is	Source and date
At least 350 billion dollars	Pre-money valuation of the employee tender offer run alongside the Series G	Bloomberg Law, 4 February 2026
380 billion dollars	Series G post-money valuation. Confirmed.	Anthropic, 12 February 2026
965 billion dollars	Series H post-money valuation. Confirmed.	Anthropic, 28 May 2026
1.8 to 2 trillion dollars	Fair value reportedly seen by prospective IPO investors	Bloomberg, reported by Investing.com, 1 October 2026
2 trillion dollars, up to 100 billion raised	Reported IPO target	IFR, 17 to 23 October 2026
About 1.5 trillion dollars	Valuation some existing and prospective investors argued for after the third-quarter results	Reuters, 19 October 2026

For anyone buying before the listing, the gap between the confirmed 965 billion dollars and the reported 1.5 to 2 trillion dollars is the whole story. Buy at 965 billion dollars and list at 2 trillion, and you have one outcome. Buy at the same price and list at or below the last round, and you have quite another.

The revenue behind the valuation

The valuation moved because revenue moved. And for a private company, the disclosed figures are unusually precise.

February 2026: run-rate revenue of 14 billion dollars, stated by the company (Anthropic, 12 February 2026).
May 2026: run-rate revenue crossed 47 billion dollars, stated in the Series H announcement (Anthropic, 28 May 2026).
End of July 2026: annualised revenue of 65 billion dollars, as Anthropic told investors in August (CNBC, 8 October 2026).
Quarterly revenue of 4.7 billion dollars in the first quarter, 11.6 billion in the second and 16.8 billion in the third, according to one attendee of the 14 October investor day (Reuters, 15 October 2026).
2025: revenue of 4.6 billion dollars and a net loss of 42 billion dollars, about 34 billion of it an accounting charge, according to Reuters, which reviewed a draft of the prospectus (Reuters on New Straits Times, 29 September 2026).
Prospectus of 26 October 2026: revenue of 16.3 billion dollars in the six months to 30 June 2026 (1.2 billion in the same period of 2025), of which 11.6 billion in the second quarter alone; operating loss of 693 million dollars in the half and operating income of 974 million in the second quarter; net loss of 80.7 billion dollars, 72.4 billion of it from changes in the fair value of convertible notes, derivative liabilities and SAFEs (SEC EDGAR).

The first two figures come from Anthropic, and the third-quarter number is still press reporting of material shown to investors. Since 26 October 2026 the prospectus on EDGAR gives the audited figures up to 30 June 2026, and they match what Reuters had seen in the draft: 4.6 billion dollars of revenue and a 42 billion net loss in 2025. OpenAI has questioned how Anthropic counts revenue sold through cloud partners; Anthropic says it follows established accounting practice (Reuters, 19 October 2026).

The road to a listing

Since 26 October 2026 the registration statement is public on SEC EDGAR, so the financial detail an outside investor needs to test the valuation is finally on the record: audited accounts for 2023 to 2025 and the first half of 2026, the capital structure and the lock-up terms. The confidential draft that came before it was never visible to anyone outside the SEC.

1 June 2026: Anthropic submits a confidential draft registration statement on Form S-1 (Yahoo Finance). Confirmed.
1 October 2026: Bloomberg reports a target of marketing from the week of 9 November and trading before Thanksgiving, 26 November, with year-end as the outer limit (Investing.com). Report.
14 October 2026: investor day in San Francisco for prospective investors (Reuters).
26 October 2026: Anthropic files its public Form S-1 and applies to list on the Nasdaq Global Select Market as ANT (SEC EDGAR). Confirmed. A roadshow from 9 November and pricing the following week remain press reports (IFR).
Pricing produces the only valuation that is not an estimate. Everything before it, the 965 billion dollars included, is either a negotiated private price or a report.

What a buyer is taking on before the listing

On 17 September 2026 Forbes listed the specific risks for anyone coming in at this stage (Forbes). Read them before looking at any offer to buy shares now.

Entry price. Buy today and you come in after rounds at 380 and 965 billion dollars, and against reported IPO targets that investors are already pushing down.
Where the money goes. A large part of what is raised may go straight back to strategic partners who are also suppliers, Amazon, Google and Nvidia above all.
Governance. Anthropic's Long-Term Benefit Trust is built to weigh safety, and that may not line up with getting shareholders the highest return.
Information. Since 26 October 2026 the prospectus is on SEC EDGAR: audited accounts, capital structure and preference stack are there to read, which was not the case for anyone buying before that date.
Validity. Anthropic states that transfers not approved by its board are void (Anthropic Help Center, updated 29 June 2026).

IPO status and how to get exposure before the IPO

Anthropic is not yet publicly traded, but its prospectus is public. On 26 October 2026 it filed its Form S-1 with the SEC and applied to list its Class A shares on the Nasdaq Global Select Market under the symbol ANT. The number of shares and the price range are blank in the filing, and press reports point to a roadshow from 9 November and pricing in mid-November 2026. Until a listing, Anthropic says any transfer of its stock without board approval is void, so outside investors are left mostly with indirect routes.

What is confirmed and what is reported

Confirmed: public Form S-1 filed on 26 October 2026, listing applied for on the Nasdaq Global Select Market under the symbol ANT, shares and price range not yet set (SEC EDGAR, 26 October 2026).
Confirmed: revenue of 16.3 billion dollars in the six months to 30 June 2026 and a net loss of 80.7 billion dollars, of which 72.4 billion from changes in the fair value of convertible notes, derivative liabilities and SAFEs (SEC EDGAR, 26 October 2026).
Confirmed: last primary valuation of 965 billion dollars post-money (Anthropic, 28 May 2026).
Reported: a roadshow from 9 November and pricing the following week, raising up to 100 billion dollars at a valuation of 2 trillion dollars, with Morgan Stanley and Goldman Sachs as joint bookrunners (IFR, 17 to 23 October 2026). The prospectus names Goldman Sachs and Morgan Stanley first among the underwriters but gives no size and no valuation.
Reported: some existing and prospective investors argued for a valuation closer to 1.5 trillion dollars after the third-quarter results (Reuters, 19 October 2026); a valuation of about 2 trillion dollars and a mid-November debut are also press figures (CNBC, 26 October 2026).

Routes to exposure before a listing, and their limits

Company rules come first. Anthropic states that its preferred and common stock are subject to transfer restrictions in its bylaws, that any sale not approved by its board is void, and that offers to the public through forward contracts or tokens are likely to have no value (Anthropic Help Center, updated 29 June 2026). In May 2026 it published a list of firms it described as not authorised, including some of the most widely used secondary platforms (Quartz on Yahoo Finance, 15 May 2026).
Tender offers. These are reserved for current and former employees. A tender at a pre-money valuation of at least 350 billion dollars ran alongside the Series G (Bloomberg Law, 4 February 2026), and employees sold less than the 5 to 6 billion dollars investors had arranged (TipRanks, 9 April 2026).
Funds. A few funds report small positions: Anthropic was 2.60% of the KraneShares AGIX ETF on 5 May 2026 (The Motley Fool, 8 May 2026). Fees apply, an interval fund repurchases shares only periodically, and a listed closed-end fund can trade away from the value of its holdings.
Listed partners. Amazon and Alphabet's Google are investors as well as suppliers and partners (Reuters, 15 October 2026), and the Series H included 5 billion dollars from Amazon (Anthropic, 28 May 2026). Their shares trade publicly, but Anthropic is a small part of what their shareholders own.
Club deals. Unicorn Club, the investor club of Unicorn Private, offers club deals in Anthropic through a dedicated vehicle (SPV), for accredited and qualified investors, from 100,000 dollars.
The IPO itself. The underwriting banks decide who gets shares in the offering, and Anthropic has announced no allocation for individual investors. After a listing, existing holders are usually tied up by a lock-up of several months.

Unicorn Private works in the secondary segment. It buys stakes in established private technology companies already valued well above one billion dollars, and does not fund early-stage companies, where most fail. What remains is the entry price, the lack of a guaranteed exit and the time it takes to get one. A company's size does not make those go away. Nothing on this page is a recommendation to buy or sell any security.

The short answer

Anthropic's last funding round, in May 2026, valued it at 965 billion dollars. On 26 October 2026 it filed its public S-1: Nasdaq, symbol ANT, 16.3 billion dollars of revenue in the first half of 2026 and a net loss of 80.7 billion, most of it an accounting charge on convertible notes (SEC EDGAR). Those figures are documented. The pricing date and the listing valuation, mid-November and 1.5 to 2 trillion dollars, are still press reports about a price that does not exist yet. The prospectus is public, so the financial detail is there to read before any decision.

Frequently asked questions

Is Anthropic publicly traded?: Not yet. As of 28 October 2026 Anthropic is a private company. It filed its public Form S-1 on 26 October 2026 and applied to list on the Nasdaq Global Select Market under the symbol ANT; shares and price range are not yet set (SEC EDGAR).
When is the Anthropic IPO?: Anthropic has not announced a date. The S-1 filed on 26 October 2026 leaves the price range and the share count blank (SEC EDGAR). A roadshow from 9 November and pricing in mid-November were reported by IFR (17 to 23 October 2026), and a mid-November debut by CNBC (26 October 2026). All of that relies on unnamed sources, and the dates can change.
Can you buy Anthropic stock?: Not on a stock exchange before the listing. Anthropic says transfers not approved by its board are void (Anthropic Help Center, 29 June 2026). Indirect exposure exists through a few funds that report small positions and through listed investors such as Amazon and Alphabet.
What is Anthropic's latest valuation?: 965 billion dollars post-money, set by the 65 billion dollar Series H announced on 28 May 2026 (Anthropic). Figures of 1.5 to 2 trillion dollars are reported targets for the IPO, not prices (Reuters, 19 October 2026).
How much revenue does Anthropic make?: Anthropic said its run-rate revenue crossed 47 billion dollars in May 2026 (Anthropic). It told investors that third-quarter revenue was 16.8 billion dollars, up from 11.6 billion in the second quarter, according to one attendee of its 14 October investor day (Reuters, 15 October 2026). The company has not published these quarterly figures.
Who owns Anthropic?: Shareholders include employees and the investors in its funding rounds. The Series H was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital and included 5 billion dollars from Amazon (Anthropic, 28 May 2026); Alphabet's Google is also an investor (Reuters, 15 October 2026). The full ownership table will appear only in a public prospectus.

Related guides

About the publisher

This guide is published by Unicorn Private Research, the research arm of Unicorn Private LLC, a Delaware private equity firm that acquires secondary stakes in late-stage private technology companies before their IPO. The firm invests only in established companies already valued above one billion dollars, not in early-stage start-ups, and its founders have been active in private equity and startup investing since 2005.

Unicorn Private is the first firm in the pre-IPO secondary market to create an open research centre in sixteen languages: guides, a tracker of the largest private technology companies, a glossary, and a frequently asked questions section, open to every reader, with every figure carrying a date and a link to a public source.

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This page in other languages

Anthropic: valutazione, ricavi e la strada verso l'IPO (Italiano)
Anthropic : valorisation, chiffre d'affaires et le chemin vers l'IPO (Français)
Anthropic: Bewertung, Umsatz und der Weg zum IPO (Deutsch)
Anthropic: valoración, ingresos y el camino hacia la salida a bolsa (Español)
Anthropic: avaliação, receita e o caminho até o IPO (Português)
Anthropic: оценка, выручка и путь к IPO (Русский)
Anthropic：估值、收入与IPO之路 (中文)
Anthropic：評価額、売上高、IPOへの道のり (日本語)
Anthropic: मूल्यांकन, राजस्व और आईपीओ की राह (हिन्दी)
Anthropic: 기업가치, 매출, 그리고 IPO로 가는 길 (한국어)
Anthropic: değerleme, gelir ve halka arza giden yol (Türkçe)
Anthropic: valuasi, pendapatan, dan jalan menuju IPO (Bahasa Indonesia)
Anthropic: التقييم والإيرادات والطريق إلى الطرح العام الأولي (العربية)
Anthropic: định giá, doanh thu và con đường đến IPO (Tiếng Việt)
Anthropic: wycena, przychody i droga do IPO (Polski)