Anthropic to Reserve Up to 20% of IPO Shares for Retail Investors

Anthropic is considering reserving 15% to 20% of its IPO shares for retail investors, with JPMorgan Chase leading the U.S. sale and Citigroup coordinating international offerings, according to Bloomberg sources. The company filed its S-1 on October 26 and plans to list Class A shares on Nasdaq under "ANT." The unusually large retail tranche, if confirmed, would exceed typical IPO allocations that favor institutional buyers. Anthropic's valuation is estimated between $1.4 trillion and $1.75 trillion, with first-half 2026 revenue of $16.29 billion. The final share price, number of shares, and retail allocation remain unconfirmed, and discussions are ongoing. Retail offerings are planned for Australia, Canada, European Economic Area countries, Japan, Switzerland, and the UK, though shares would trade only on Nasdaq. Trading cannot begin until the SEC declares the registration effective, with a potential listing date of November 16.