Underwriting Parameters
Target Offering: November 2026 Listing
Target Valuation (Pre-Raise)
$2,000B ($2.00T)
Primary Capital Raise ($B)
$25.0B
Employee Option Pool Allocation
10.0%
Baseline Existing Shares (M)
Reported S-1 Context:
Claude creator Anthropic confidentially submitted its Form S-1 following a $965B Series H mark. Market expectations project between $1.14T (Forge median) to $2.0T+ (lead investor models), with potential proceeds anchored by Nvidia and hyperscalers.
Source: FT, Reuters, Watcher.Guru disclosures
Implied Share Price
Post-Money Valuation
$2,025.0B
Target + Primary Raise ($2.025T)
New Shares Issued
Raised at Implied IPO Price
Public Float Allocation
1.23%
Public percentage of Cap Table
Cap Table Distribution (Post-Offering)
Post-IPO Capitalization Table Breakdown
Consolidated Class A & Common Equiv.
| Shareholder Tier | Shares (Millions) | Ownership % | Implied Market Value | Governance / Dilution |
|---|