The IPO calendar has one scheduled deal for the week ahead, and it’s the big one: Anthropic (ANT).
The AI giant is slated to raise $61 billion at a $1.2 trillion market cap, along with a $26 billion concurrent private placement to investors including AMD, Google, Microsoft, and others. Anthropic’s IPO will be the first significant test of investor appetite for a frontier AI story, a key signal for the massive wave of AI unicorns waiting in the backlog.
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Anthropic develops Claude, a family of frontier AI models with a focus on enterprise deployment and model safety, and its advanced models have supported the company’s leading position in enterprise AI and coding. Most of its revenue is consumption-based usage, with subscriptions adding the rest. The company serves over 40 million customers, including every Fortune 10 company and more than half of the Fortune 500. Leading up to the IPO, the company released its latest models, Mythos 5.2 and Fable 5.2. Anthropic has seen a strong surge in revenue, though sequential growth declined to +47% in the 3Q26, down from +144% in the 2Q. It also has some customer concentration, with its top five customers accounting for 21% of revenue in the 3Q.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Anthropic (ANT) San Francisco, CA | $61,050M $1,217,254M | $70 - $78 825,000,000 | Goldman Morgan Stanley |
| Developer of frontier AI models known for its Claude product line. | |||
Street research is expected to for one company in the week ahead, and one lock-up period will be expiring. For access to Street research and lock-up expiration dates, sign up for a free trial of IPO Pro.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 11/12/2026, the Renaissance IPO Index was up 1.2% year-to-date, while the S&P 500 was up 11.8%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include SpaceX (SPCX) and Astera Labs (ALAB). The Renaissance International IPO Index was up 6.0% year-to-date, while the ACWX was up 10.4%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Galderma and CATL.
