Anthropic IPO: date, valuation, and how to buy it in Canada

Last updated Nov 7, 2026 7:37 PM MT. Data as of Nov 2, 2026 · prices Nov 8, 2026 01:37 UTC

Not financial advice. This is general information for people in Canada. It is not a recommendation to buy or sell any security, and it is not tax advice. IPO dates change. Anything marked reported is not confirmed by the company.

Anthropic filed a public S-1 on Oct 26, 2026. Amendment No. 1 was filed on Nov 2, 2026. It adds results through September 30, 2026. The price range and the share count are still blank. The proposed ticker is ANT, and the company has applied to list Class A common stock on the Nasdaq Global Select Market. The figures below are from the Nov 2 amendment. IFR's week-of-Nov-9 roadshow and about-Nov-20 first trade are reported, not confirmed. Confirmed dates for those steps are TBD.

IPO timeline / what's next

Filed steps are on EDGAR. Later steps do not have a confirmed date. Where a news report names a day, the label is reported, not confirmed, and the confirmed date stays TBD.

1. Oct 26, 2026 confirmed Public S-1 filed. Proposed ticker ANT. Applied to list Class A common stock on the Nasdaq Global Select Market. IPO price range left blank. SEC EDGAR S-1
2. Nov 2, 2026 confirmed S-1 Amendment No. 1 filed. Adds quarterly results through Sept 30, 2026. Price range and share count still blank. The filing anticipates a US retail selling group (Schwab, Fidelity, Robinhood, Trade-PMR, SoFi, E*TRADE). SEC EDGAR S-1/A
3. TBD confirmed date not set Price-range amendment. A later S-1/A that prints the price range. Not filed as of Nov 2, 2026. Confirmed date: TBD.
4. Week of Nov 9, 2026 reported, not confirmed Roadshow. IFR reported a roadshow from Nov 9, with pricing the following week. Confirmed date: TBD. IFR
5. TBD confirmed date not set Pricing. The final offer price is set in a Form 424B4. No 424B4 is on file. Confirmed date: TBD.
6. About Nov 20, 2026 reported, not confirmed First trade. IFR reported a Nasdaq debut aimed at Nov 20. Confirmed date: TBD. IFR

Dated record

Confirmed items come from Anthropic. Everything else is a news report and can move. Yahoo Finance wrote on Oct 21 that a company using the confidential process has to put the registration on EDGAR at least 15 days before a formal roadshow. That is Yahoo's description of the rule, not a date Anthropic has confirmed. Yahoo Finance

1. May 28, 2026 confirmed Series H: $65B at $965B post-money Anthropic
2. Jun 1, 2026 confirmed Confidential draft S-1 submitted to SEC (announced) Anthropic
3. Sep 13, 2026 reported Nasdaq selected for a potential IPO (reported, via Business Insider) Reuters
4. Oct 14, 2026 reported Pre-IPO investor day; Q3 revenue $16.8B (reported). The Nov 2, 2026 S-1/A later printed $16,956 million for that quarter. CNBC
5. Oct 22, 2026 reported Listing planned for mid-November; prospectus as early as late October; marketing the week of Nov 9; dates subject to change (reported) Reuters (via Investing.com)
6. Oct 23, 2026 reported Public S-1 could be filed as early as this date (reported) Yahoo Finance
7. Oct 26, 2026 confirmed Public S-1 filed. Proposed ticker ANT. Applied to list Class A common stock on the Nasdaq Global Select Market. IPO price range left blank. SEC EDGAR S-1
8. Oct 26, 2026 reported IFR had reported a public S-1 filing planned for this date (reported) IFR
9. Nov 2, 2026 confirmed S-1 Amendment No. 1 filed. Adds quarterly results through Sept 30, 2026. Price range and share count still blank. The filing anticipates a US retail selling group (Schwab, Fidelity, Robinhood, Trade-PMR, SoFi, E*TRADE). SEC EDGAR S-1/A
10. Nov 2, 2026 reported Japanese filing shows a sale of up to $3.5 billion of shares in Japan (reported). This is a reported cap for Japan, not a Canadian allocation. Reuters (via Investing.com)
11. Nov 3, 2026 reported MT Newswires reports Anthropic expects a retail offering in Canada and names RBC Capital Markets, TD Securities and Wealthsimple (reported). MT Newswires
12. Nov 5, 2026 confirmed Anthropic IPO help page lists firms expected to participate in a proposed Canadian retail offering. Names also given by the Nov 3 MT Newswires report: RBC Capital Markets, TD Securities, Wealthsimple. Allocation not guaranteed. Anthropic
13. Nov 9, 2026 reported Roadshow from Nov 9; pricing the following week (reported) IFR
14. Nov 20, 2026 reported Nasdaq listing aimed for this date; roadshow expected the week of Nov 9 (reported) IFR
15. Nov 2026 reported Listing targeted mid-November; December also considered (reported) Renaissance Capital

Exchange and ticker

The S-1 says Anthropic has applied to list its Class A common stock on the Nasdaq Global Select Market under the proposed symbol ANT. The cover page leaves the initial public offering price blank (between $ and $). The shares are not trading.

Valuation

Last confirmed private valuation: $965B post-money (Series H ($65B raised), May 28, 2026) Anthropic.

~$1.5T discussed by some investors (down from ~$2T expected) reported Reuters (via Investing.com)

IFR reports Anthropic is targeting up to $100B at a $2T valuation (reported) reported IFR

Financials from the S-1/A

Amendment No. 1, filed Nov 2, 2026, adds quarterly results through September 30, 2026. Amounts below are as printed in that prospectus, in millions of US dollars, unless a line is already stated in billions. SEC EDGAR S-1/A (Amendment No. 1, filed Nov 2, 2026) Original S-1, Oct 26, 2026

Revenue was $16,956 million (about $16.96 billion) for the three months ended September 30, 2026, and $11,555 million (about $11.56 billion) for the three months ended June 30, 2026. Revenue for the nine months ended September 30, 2026 was $33,242 million (about $33.24 billion), compared with $2,545 million (about $2.55 billion) in the nine months ended September 30, 2025. The prospectus narrative rounds the September quarter to $17.0 billion. The printed quarterly line is $16,956 million.

Net loss was $23,291 million (about $23.29 billion) in the September quarter and $66,309 million (about $66.31 billion) in the June quarter. Nine-month net loss was $104,039 million (about $104.04 billion). Operating loss was $567 million in the September quarter. The June quarter was operating income of $974 million. Nine-month operating loss was $1,260 million (about $1.26 billion).

The filing says the September operating loss was driven by $5.0 billion of compute under short-term commitments and $2.0 billion of non-cash charges related to the donation matching program. Most of the net loss is a different line: the change in fair value of convertible notes, derivative liabilities, and SAFEs. That line was $21,936 million (about $21.94 billion) in the September quarter, $59,597 million (about $59.60 billion) in the June quarter, and $94,324 million (about $94.32 billion) for the nine months. The filing says those instruments are marked to market, so a higher enterprise valuation increases this expense. It is not cash spent on operations. The operating result is the $567 million operating loss, not the $23,291 million (about $23.29 billion) net loss.

Compute purchase commitments were approximately $895.4 billion as of and subsequent to September 30, 2026, substantially all of it related to compute and infrastructure. The same paragraph says approximately $447.5 billion is expected before December 31, 2030, and approximately $69.8 billion is due in the 12 months after September 30, 2026. Compute and infrastructure was 58% of revenue in the September 2026 quarter and 48% in the June 2026 quarter.

The Oct 26 S-1 six-month totals match the sum of the amendment's March and June quarters. First-quarter 2026 revenue of $4,731 million plus June-quarter revenue equals six-month revenue of $16,286 million (about $16.29 billion). Six-month operating loss was $693 million. Six-month net loss was $80,748 million (about $80.75 billion), of which $72,388 million (about $72.39 billion) was the fair-value change. Other income (expense), net was a further loss of $8,757 million in those six months (Oct 26 S-1). Revenue for the year ended December 31, 2025 was $4,585 million (about $4.59 billion). Revenue for the six months ended June 30, 2025 was $1,163 million (about $1.16 billion), and the operating loss for that period was $2,135 million (about $2.14 billion). Compute and infrastructure was 55% of revenue in the six months ended June 30, 2026, and 201% a year earlier (Oct 26 S-1).

"About" figures are the printed million amounts, restated in billions and rounded half up. $66,309 million is about $66.31 billion on that rule, which is the same $66.3 billion figure rounded to one decimal. The price range and the share count on the cover are still blank.

Financials (reported)

These earlier figures come from news reports. They are rounded. The S-1/A table above is the filing. The Oct 15, 2026 report of about $16.8 billion for Q3 was a news report. The amendment prints $16,956 million for that quarter.

SEC filings

S-1 Amendment No. 1 is the current prospectus on EDGAR. Current prospectus on EDGAR. Last checked Nov 2, 2026 16:45 UTC.

The daily EDGAR index on this site does not list this CIK yet. Use the S-1 link above if one is shown.

How a Canadian can buy it

The plain-language version is how to buy the Anthropic IPO from Canada. The same ideas for any US listing are on how to buy a US IPO from Canada.

Allocation versus buying on day one

These are two different purchases.

An allocation means shares from the offering, at the IPO price, before the first trade. Who receives shares is up to the underwriters and the brokers on the deal. An allocation is not guaranteed.

Day one is an ordinary trade after the stock opens. You pay the market price, which can be well above or below the IPO price. You need a broker that offers US-listed stocks, the ticker in that broker's symbol search, and usually US dollars.

If you trade near the open, a limit order sets the most you will pay. A market order can fill far from the last price you saw.

What that means for Anthropic

Amendment No. 1 leaves the share count and the price blank. The prospectus says the offering includes a public offering in Canada, and that Anthropic does not currently intend to list the shares on a Canadian exchange. S-1/A Firms both sources name for the proposed Canadian retail offering are listed below. If your broker offers the new issue, it will show on that broker's IPO or new-issue screen. Opening an account does not reserve shares.

Canadian firms listed for the proposed retail offering

Anthropic's own IPO help page says a retail offering in Canada is expected. It lists firms it says are expected to participate. A Nov 3, 2026 MT Newswires report also says Anthropic expects a retail offering in Canada, and it names three Canadian firms. This page lists a firm only when both sources name it:

• RBC Capital Markets
• TD Securities
• Wealthsimple

Anthropic IPO help page MT Newswires, Nov 3, 2026

Both sources say Anthropic has not authorized any other firm or platform to offer, or to advertise access to, shares in that proposed international retail offering. Anthropic says the help page will be updated if the list changes. The help page names other firms as well. The news report did not repeat those other names, so they are not listed here.

Being listed is not an allocation. Access, eligibility, any minimum, and how many shares you receive depend on the broker. None of that is guaranteed. RBC Capital Markets and TD Securities are dealer names. That is not a confirmation that RBC Direct Investing or TD Direct Investing will show the deal in your account. Check with your broker before you send money or open an account. Opening an account does not reserve shares.

Anthropic's help page says there will not be a sale, or an acceptance of an offer to buy, until a receipt for the final Canadian base PREP prospectus has been issued. The IPO price and the share count are still blank.

US platforms named in the Nov 2 amendment

Amendment No. 1 says Anthropic anticipates that a portion of the Class A shares will, at its request, be offered to retail investors through the US platforms below. Those platforms will act as selling group members. A purchase through them would be at the initial public offering price on the cover, subject to each platform's own terms. The cover price is still blank. These are US platforms. Canadian names for the proposed retail offering are on Anthropic's IPO help page, not in this US list. SEC EDGAR S-1/A, Sales to Retail Investors

• Charles Schwab & Co., Inc.
• Fidelity Brokerage Services LLC and Fidelity Capital Markets, a division of National Financial Services LLC
• Robinhood Financial, LLC
• Trade-PMR, Inc.
• SoFi Securities LLC
• E*TRADE from Morgan Stanley

That list is in the prospectus. It is not a news report. The filing's own word is "anticipates". It does not say a person in Canada will receive an allocation through those US accounts.

Separately, Reuters and Nikkei Asia reported on Nov 2, 2026 that a Japanese filing shows a sale of up to $3.5 billion of shares in Japan. That figure is reported. It is a cap for Japan, not a Canadian allocation, and it is not a promise of how many shares any buyer receives. Reuters (via Investing.com) Nikkei Asia

Buying after it lists

1. The proposed ticker is ANT. It is not trading yet, and the price range is not set. Search ANT in your broker on listing day before you move cash.
2. Use a broker that offers US-listed stocks. The notes below are from each firm's own pages, checked Oct 25, 2026.
3. Choose the account (TFSA, RRSP, FHSA or non-registered) and confirm that broker accepts the ticker there.
4. Hold US dollars if you can, so you do not convert on the buy and again on the sell.
5. Complete Form W-8BEN if the broker asks for it.
6. Use a limit order if you trade on the first day.

Brokers that offer US-listed stocks

These cards quote each firm's own pages on US-listed trading and currency conversion. A firm named above for the proposed retail offering is not a promise that its screen will show ANT, or that you will get shares, and they are not symbol-search checks for ANT, which is proposed and not listed yet. RBC Direct Investing is included here because its own site describes US stock trading. It is not in our fund symbol-search table.

Interactive Brokers appears in our symbol-search checks for listed funds. This page does not quote an Interactive Brokers commission or conversion rate.

TFSA, RRSP and FHSA

Check with your broker before you place an order in a registered account. A new ticker is not automatically accepted in every account on the first morning.

Once a common share lists on a designated stock exchange, it is generally a qualified investment for a TFSA, an RRSP, an FHSA and the other plans named in the CRA folio. CRA folio S3-F10-C1

Nasdaq and the NYSE are both on Finance Canada's designated list. Department of Finance

That is about eligibility after the shares list. It does not mean your broker will accept a brand-new ticker in that account on the first morning. Check the symbol search. A stock that only trades over the counter is a different case. Those markets are not designated exchanges.

Canadian tax on growth inside a TFSA or RRSP is separate from US tax on dividends. Article X of the Canada-US tax treaty generally caps US tax on dividends paid to a Canadian resident at 15%. Article XXI(2) exempts dividends received by a Canadian pension or retirement arrangement. An RRSP is that kind of plan. A TFSA is not a pension, so that exemption does not apply to it. Canada-US tax treaty

Brokers usually ask for Form W-8BEN so the US payer can apply the treaty rate. IRS Form W-8BEN

Confirm the security and any withholding with your broker or a tax professional before you place the trade.

How Canadians can get exposure before a listing

You cannot buy Anthropic itself yet. Two NYSE-listed funds report Anthropic holdings. You would be buying the fund, not Anthropic. The share price can sit far above or below the last reported NAV.

Broker cells are symbol-search checks for these fund tickers, on the date shown. They are not a check for ANT, the proposed Anthropic ticker, which is not listed yet. RBC Direct Investing is not in this check. Unverified means we did not confirm it.

Listed funds that report an Anthropic holding

• DXYZ (Destiny Tech100): 14.4% as of Jun 30, 2026; price $24.37, premium/discount vs last NAV -29.0% source
• VCX (Fundrise Innovation Fund): >20% of net assets as of Jun 30, 2026; price $20.05, premium/discount vs last NAV -7.6% source
• ARKVX (ARK Venture Fund): 4.41% as of Sep 30, 2026; price $58.85, trades at NAV source

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