Anthropic, the maker of Claude, plans to sell up to $3.5 billion worth of shares to Japanese investors as part of its US stock market listing, according to a filing made in Japan on 2 November 2026. The filing gives the clearest sign yet of how global the offering is expected to be, though it leaves the key numbers open.
What the filing says
Reuters reported that Anthropic filed a securities registration statement with Japan's Kanto Local Finance Bureau to sell up to 552.9 billion yen, about $3.5 billion, of shares to Japanese investors. The new shares are meant to raise working capital and fund operating expenses and capital expenditure, according to the filing. Mizuho Securities is reported to be managing the Japanese sale. The number of shares and the offering price had not been set when the filing was made.
That ceiling is about 1.6 times the $2.2 billion that Japanese investors took in SpaceX's June listing, which raised $75 billion overall, according to the comparison drawn by BigGo Finance and FourWeekMBA.
What is still unknown
- Total size: The filing does not state how large the overall IPO will be.
- Valuation: Reuters has reported that some investors have discussed a valuation of around $1.5 trillion, but no official valuation has been published.
- Timing: One report says the listing is expected to target mid-November, but that the Japan filing notes the Nasdaq listing application has been made without approval yet obtained.
The background
Anthropic submitted a confidential registration to US regulators in June 2026, and a public S-1 registration statement is now on file with the SEC. It shows the company raised tens of billions of dollars in private funding rounds earlier this year, including a Series H round at $589.01 per share in May and June. Anthropic is incorporated as a public benefit corporation.
Why it matters
An offering of this scale would put a frontier AI lab's finances under public scrutiny for the first time, with quarterly reporting on revenue, costs and spending on computing power. It would also place Anthropic alongside OpenAI, which has been reported to be preparing a listing of its own, and test how much public investors will pay for AI model makers.
Anthropic is the company that makes Claude, the AI model behind this assistant. This article reports the filing and the reporting around it, and it is not investment advice. Anyone considering buying shares should read the prospectus risk factors and speak to a licensed financial adviser.
Sources: Reuters, via Lufkin Daily News and TradingView; BigGo Finance; FourWeekMBA; Digg; SEC Form S-1.
