Anthropic plans Nasdaq IPO with multi-class shares built to keep founders in charge

The Claude maker's filing pairs explosive revenue growth with a governance setup that splits voting power, economics and board control Anthropic, the AI company behind the Claude models, is heading to the public markets. Its plan uses a layered share structure that divides voting rights and board control across separate classes of stock. The company submitted its Form S-1 registration statement to the SEC on October 26, 2026. It is seeking to list Class A common stock on the Nasdaq under the ticker “ANT.” A debut is planned for mid-November, with Goldman Sachs and Morgan Stanley leading the offering. The IPO is anticipated to rank among the largest in history. Four doors, different keys The research summary of the filing refers to five classes. The arrangement is deliberately complex. Class A is the common stock set to trade on Nasdaq. It is the share most public investors will actually buy. Class F carries 50.1% of voting power. That is a majority, and it is the piece of the structure that lets Anthropic’s seven co-founders keep substantial authority over corporate decisions after outside money arrives. Class N is held by Amazon and Google, two of Anthropic’s biggest backers. Thes...