Anthropic, the artificial intelligence company behind Claude, is targeting a valuation of up to $1.4 trillion in its planned initial public offering (IPO), potentially making it one of the most valuable companies to enter the stock market.
The AI developer has set a price range of $70 to $78 per share for its offering. At the midpoint, the IPO is expected to raise $61bn, with the company’s valuation reaching approximately $1.1 trillion when options and unvested stock are included. A pricing at the upper end of the range could push its valuation to $1.4 trillion.
Brandspur Brand News reports that the proposed listing is emerging as a major test of investor confidence in artificial intelligence, with Anthropic seeking to turn its rapid commercial expansion into a sustainable public-market business.
The company’s financial performance has attracted significant attention. Anthropic generated $17bn in sales in its most recent quarter, representing a 1,127 per cent increase from the corresponding period a year earlier.
For the first nine months of 2026, revenue reached $33.2bn, compared with $4.6bn recorded throughout 2025.
However, the company’s growth comes with substantial financial commitments. Anthropic has committed nearly $900bn to computing power and data centre infrastructure over the coming years, raising questions about whether its revenue expansion will be sufficient to cover its long-term spending.
The company has also recorded only one quarter of operating profit in its five-year history.
In its pre-IPO prospectus, Anthropic cautioned that its recent revenue growth rates were unlikely to continue indefinitely, acknowledging uncertainty over its ability to sustain further expansion.
Another concern for potential investors is the company’s dependence on a relatively small group of customers. Five customers accounted for a quarter of its sales this year, although Anthropic did not identify them.
Some of those customers are also competitors developing their own artificial intelligence models, creating the possibility that changes in their spending priorities could affect Anthropic’s future revenue.
The proposed IPO also includes an unusual arrangement for existing shareholders.
Unlike conventional listings, where insiders are typically restricted from selling shares for several months, Anthropic plans to allow some non-founder investors and employees to sell 10 per cent of their holdings on the first day of trading.
The prospectus outlines a staggered schedule of additional share sales across 23 dates during the first year after the listing.
The arrangement has drawn criticism from some financial analysts, who argue that it could allow early investors to cash out substantial holdings while public-market investors assume the risks associated with the company’s future performance.
Anthropic’s ownership structure is another point of scrutiny. Its seven founders hold majority voting power, raising concerns among some observers about the influence of management over public shareholders.
The listing is expected to proceed amid growing uncertainty over the broader artificial intelligence investment market.
Recent declines in AI-linked stocks have reflected concerns about the pace of data centre construction, regulatory developments and public attitudes towards AI safety.
Despite the challenges, Anthropic is moving ahead with plans to market its shares to investors, with its public debut expected as soon as next week.
The offering could become one of the largest in financial market history, while providing investors with an opportunity to gain direct exposure to a company developing technology that is increasingly being adopted across businesses and industries.
For investors in Nigeria and other emerging markets, the proposed listing also highlights the growing influence of artificial intelligence on global investment opportunities, even as the financial risks surrounding the sector remain significant.
