Anthropic IPO six times oversubscribed on path to largest offering in history

Record demand for the share sale

The Anthropic IPO is six times oversubscribed, meaning investors have asked for six times more shares than the company plans to sell. The figure comes from Bloomberg and was reported by The Decoder on 13 November 2026. If the offering completes as planned, it would become the largest public share sale in history.

The listing is set for the Nasdaq exchange under the ticker ANT. Existing shareholders of the artificial intelligence company will receive priority when shares are allocated, according to the report.

How much money Anthropic wants to raise

The company and its co-founders are seeking as much as $64.4 billion from the public sale of shares. A further $26 billion is expected to come from a private placement, a deal in which selected large investors buy stock directly rather than on the open market.

Together, those sums would exceed even the listing of SpaceX, according to The Decoder. The report puts the target valuation for Anthropic at roughly $1.4 trillion, which would place the Claude developer among the most valuable companies in the world.

Revenue growth behind the demand

The strong interest appears to be driven largely by the company's financial performance. Anthropic's annualised revenue, a measure that projects monthly income over a full year, reached $81 billion by late October. That is up from $71 billion in September, according to the report.

That pace of growth helps explain why orders have overwhelmed the supply of shares. It also gives the company and its bankers a strong story to tell investors during the marketing period before the listing.

Nvidia's stake and a leadership claim

Nvidia is among the buyers in the private placement. The chipmaker intends to purchase $10 billion of Anthropic stock through that channel, according to The Decoder.

The report also contains a striking claim about Nvidia itself. It states that investors in the chip company have grown more cautious since its chief executive, Jensen Huang, was removed from his role over an alleged espionage scandal. This claim is not confirmed elsewhere in the material, so readers should treat it as an unverified report rather than an established fact.

What happens next

Goldman Sachs and Morgan Stanley are managing the listing. Chief executive Dario Amodei is scheduled to present the company to investors in a livestream on Friday, appearing alongside JPMorgan chief executive Jamie Dimon.

With demand running at six times the available shares, the offering is likely to be heavily allocated when pricing is set. The final size, valuation and pricing of the Anthropic IPO will only be known once the company completes the process on Nasdaq.