Is Anthropic publicly traded?

No. As of 20 October 2026 Anthropic is a private company with no ticker. It submitted a confidential draft S-1 on 1 June 2026 (Yahoo Finance), and no public S-1 appears on SEC EDGAR.

When is the Anthropic IPO?

Anthropic has not announced a date. Bloomberg reported on 1 October 2026 a target of trading before Thanksgiving, 26 November (Investing.com), and IFR reported a public filing planned for 26 October and a roadshow from 9 November (IFR). Both rely 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 and that SPVs may not acquire its stock (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 20 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 submitted a confidential draft S-1 to the SEC on 1 June 2026 (Yahoo Finance). No public S-1 appeared on SEC EDGAR as of 20 October 2026.
Reported, not confirmed: a public filing on 26 October, 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 was valued at 965 billion dollars post-money by its Series H, announced on 28 May 2026, above OpenAI's last round of 852 billion dollars, and it is further along the road to a listing: it submitted a confidential S-1 to the United States Securities and Exchange Commission on 1 June 2026. Everything published since about the date and size of the listing is a press report, and this page separates the two.

The reported valuations, and who reported them

Six numbers circulate for Anthropic and they mean different things. The first three are prices at which shares actually changed hands. The last three are press reporting about a listing that has not 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

The gap between the confirmed 965 billion dollars and the reported range of 1.5 to 2 trillion dollars is the whole question for anyone buying before the listing. Entering at 965 billion dollars and listing at 2 trillion is a very different proposition from entering at the same price and listing at or below the last round.

The revenue behind the valuation

The valuation has moved because the revenue has moved, and the disclosed figures are unusually specific for a private company.

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, according to Reuters, citing a leaked copy of the prospectus (CNBC, 8 October 2026).

The first two figures come from Anthropic itself. The others are press reporting of material shown to investors, and they cannot be checked until the prospectus is public. OpenAI has also disputed how Anthropic counts revenue sold through cloud partners; Anthropic says it follows established accounting practice (Reuters, 19 October 2026).

The road to a listing

A confidential S-1 is a draft registration statement filed with the SEC that is not published while the regulator reviews it, so the financial detail that would let an outside investor test the valuation is not yet available.

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).
Reported for 26 October 2026: public filing of the prospectus, followed by a roadshow from 9 November and pricing the following week (IFR). As of 20 October no public S-1 appears on EDGAR.
Pricing sets the only valuation that is not an estimate. Everything before it, including the 965 billion dollars, is a negotiated private price or a report.

What a buyer is taking on before the listing

Forbes set out the specific risks for someone entering at this stage on 17 September 2026 (Forbes), and they are worth reading against any offer to buy shares now.

Entry price. A buyer today enters after rounds at 380 and 965 billion dollars, and against reported IPO targets that investors are already negotiating down.
Where the capital goes. Much of the money raised may flow back to strategic partners that are also suppliers, notably Amazon, Google and Nvidia.
Governance. Anthropic's Long-Term Benefit Trust structure is designed to weigh safety considerations, which may not align with maximising shareholder return.
Information. Until the prospectus is public, no outside buyer can see audited accounts, the capital structure or the preference stack.
Validity. Anthropic states that transfers not approved by its board are void and that SPVs may not hold its stock (Anthropic Help Center, updated 29 June 2026).

IPO status and how to get exposure before the IPO

Anthropic is not yet publicly traded. It submitted a confidential draft S-1 to the SEC on 1 June 2026, and press reports point to a debut in mid-November 2026, but the company has announced no date, price range or exchange, and no public S-1 appeared on SEC EDGAR as of 20 October 2026. Before a listing, Anthropic says any transfer of its stock not approved by its board is void, so the routes open to outside investors are mostly indirect.

What is confirmed and what is reported

Confirmed: confidential draft S-1 submitted on 1 June 2026 (Yahoo Finance, 1 June 2026).
Confirmed: last primary valuation of 965 billion dollars post-money (Anthropic, 28 May 2026).
Reported: marketing from the week of 9 November and trading before Thanksgiving, 26 November, with year-end as the outer limit, according to people familiar with the matter (Bloomberg, reported by Investing.com, 1 October 2026).
Reported: a public filing planned for 26 October, 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, according to a person familiar with the process (IFR, 17 to 23 October 2026).
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).

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, that it does not permit SPVs to acquire its stock, 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 its list of firms described as not authorised included Forge Global and Hiive, which said they handle only issuer-approved transfers (Quartz on Yahoo Finance, 15 May 2026).
Secondary platforms. Forge Global reported, on data at 17 September 2026, that Anthropic does not allow direct share transfers or fund investments, and it showed no Forge Price for the company (Forge Global).
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 and 2.96% of the ARK Venture Fund on 30 April 2026, and Destiny Tech100 announced an investment of about 100 million dollars in February 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.
The IPO itself. Shares in the offering are allocated by the underwriting banks, and Anthropic has not announced an allocation for individual investors. After a listing, existing holders are normally bound by a lock-up of several months.

Unicorn Private works in the secondary segment, acquiring stakes in established private technology companies already valued well above one billion dollars rather than funding early-stage companies where most fail. The risks that remain are the entry price, the absence of a guaranteed exit and the time to one, and they are not removed by the size of the company. Nothing on this page is a recommendation to buy or sell any security.

The short answer

Anthropic was valued at 965 billion dollars by its own last funding round in May 2026, has filed confidentially for an IPO, and is the subject of press reports pointing to a listing in mid-November 2026 at 1.5 to 2 trillion dollars. The first figure is documented, the filing is confirmed, and the date and valuation of the listing are reports about a price that does not yet exist. Any decision taken before the prospectus is public is taken without the financial detail that decision would normally require.

Frequently asked questions

Is Anthropic publicly traded?: No. As of 20 October 2026 Anthropic is a private company with no ticker. It submitted a confidential draft S-1 on 1 June 2026 (Yahoo Finance), and no public S-1 appears on SEC EDGAR.
When is the Anthropic IPO?: Anthropic has not announced a date. Bloomberg reported on 1 October 2026 a target of trading before Thanksgiving, 26 November (Investing.com), and IFR reported a public filing planned for 26 October and a roadshow from 9 November (IFR). Both rely 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 and that SPVs may not acquire its stock (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 and entirely free research centre in sixteen languages: guides, a tracker of the largest private technology companies, a glossary, and a frequently asked questions section, free to read at no cost, with every figure carrying a date and a link to a public source.

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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)