Anthropic eyes $1.5T IPO as FTX’s sold stake looks like a historic miss

Anthropic, the AI lab behind the Claude models, has filed its S-1 prospectus with the SEC. It is preparing for a Nasdaq listing under the ticker ANT, and the debut is anticipated before Thanksgiving 2026. Early valuation talk centers around $1.5 trillion. For one group of people, that number stings more than most: the creditors of FTX, whose bankruptcy estate sold its Anthropic stake two years too early. The filing and the numbers The prospectus landed on October 26, 2026. If the reported valuation holds, the listing would rank among the largest IPOs in history. That $1.5 trillion figure is actually a step down. Earlier estimates hovered near $2 trillion before a progressive slowdown in revenue growth cooled expectations. Recent earnings showed a sequential revenue increase of 45%. For most companies, that would be a victory lap. For one being priced like a trillion-dollar rocket ship, it was enough to trim about half a trillion off the hopeful math. Even the reduced figure would be a major leap. Anthropic was valued at $965 billion during a funding round in May 2026. The top-line growth remains eye-catching. Anthropic reported revenue of $16.3 billion for the first half of 2026, a...