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Texas, November 3, 2026 – Antrhropic, the AI lab behind Claude, is taking its fundraising abroad.
The company plans to sell up to 552.9 billion yen, or about $3.5 billion, worth of shares to investors in Japan as part of its upcoming U.S. listing, according to a filing Monday.
The move places Japan, where IPOs have fallen to a 14 year low, at the center of one of the most anticipated technology debuts in years.
Alongside Australia, Canada and parts of Europe, Japan will be one of the few markets whose investors get direct access.
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The shares will not list in Tokyo; buyers will receive the same Class A stock set to trade on Nasdaq under ticker ANT.
The filing, submitted to Japan’s Kanto Local Finance Bureau, sets a ceiling, not a final allocation.
Proceds are earmarked for working capital, operating expenses and capital expenditure, including computing infrastructure that defines the cost of the AI race.
Mizuho Securities will lead the Japanese portion as administrative manager, with Goldman Sachs, Mitsubishi UFJ Morgan Stanley, Morgan Stanley MUFG, Rakuten and SBI Securities handling orders.
Mizuho Financial Group and Mitsubishi UFJ Financial Group are among underwriters.
Some investors have discussed around $1.5 trillion, according to Reuters, a figure that would place Anthropic among the world’s most valuable companies turning public.
The company filed its draft S1 confidentially June 1 and made it public October 2026.
For context, the scale is striking. At SpaceX’s $75 billion IPO in June, the largest ever, Japanese investors secured $2.2 billion. Anthropic’s $3.5 billion ceiling is about 1.6 times that.
Timing reflects a rush to tap equity markets. Anthropic reported $16.3 billion in revenue in the first half of 2026, up from $1.2 billion a year earlier, underscoring demand for large models and capital needed to train them.
By carving out a Japan tranche, Anthropic is not just raising money.
It is cultivating a shareholder base in a country starved for new listings, while testing appetite for an AI company whose promise is vast and profitability remains unproven.
