Published: November 18, 2025 – Informational only, not investment advice.
Anthropic, the privately held AI company behind the Claude family of models, is suddenly at the center of the global AI trade again today. A fresh multi‑billion‑dollar partnership with Microsoft and Nvidia, new education and industrial AI deals, and surging secondary‑market activity are reshaping how investors think about Anthropic stock—even though the company still has no public ticker. [1]
Below is a clear rundown of what changed today, how Anthropic’s private share price looks right now, and what it could mean for an eventual IPO.
Key takeaways on Anthropic stock today
- Anthropic is still private. There is no public ticker on NYSE or Nasdaq; data providers track it under labels like ANTH.PVT as a private company profile. [2]
- Microsoft + Nvidia will invest up to $15 billion combined in Anthropic, while Anthropic commits to buy $30 billion of Azure cloud capacity and adopt Nvidia’s latest Grace Blackwell and Vera Rubin systems at up to 1 gigawatt of compute. [3]
- Secondary‑market prices for Anthropic stock today (Nov 18, 2025):
- Valuation momentum: Anthropic’s Series F round in September valued the company at $183 billion post‑money; secondary data now implies valuations around $200–230+ billion as of November. [6]
- Fundamentals are scaling fast: Internal and external reporting suggests Anthropic’s revenue run‑rate approached $7 billion in 2025, with over 300,000 business customers and large enterprise accounts growing nearly seven‑fold year over year. [7]
- Capex is huge: Just last week, Anthropic announced a $50 billion AI data center build‑out in Texas and New York in partnership with Fluidstack to support demand for Claude. [8]
- New deals today beyond Big Tech:
- Coursera partnership to launch “Real‑World AI for Everyone” and “Building with the Claude API”specializations. [9]
- Industrial AI alliance with IFS Nexus Black, launching Resolve, a predictive‑maintenance solution built on Claude for asset‑heavy industries. [10]
- Education partnership with the Government of Rwanda and ALX to deploy a Claude‑based learning companion, Chidi, to hundreds of thousands of African learners. [11]
Microsoft and Nvidia just rewrote Anthropic’s capital story
The headline move today is the three‑way strategic partnership between Microsoft, Nvidia and Anthropic.
According to Microsoft’s official blog and Anthropic’s own announcement:
- Anthropic will scale its Claude models on Microsoft Azure, powered by Nvidia GPUs, committing to purchase $30 billion of Azure compute capacity and to contract up to 1 gigawatt of additional capacity. [12]
- Anthropic will adopt Nvidia’s architecture for future models, working closely with Nvidia on chip and system design so that upcoming Claude versions run efficiently on Grace Blackwell and Vera Rubin platforms. [13]
- Nvidia will invest up to $10 billion in Anthropic and Microsoft up to $5 billion, likely as part of Anthropic’s next primary funding round. [14]
- Microsoft is expanding distribution of Claude: Claude Sonnet 4.5, Haiku 4.5 and Opus 4.1 are now available in public preview via Microsoft Foundry and integrated more deeply into Microsoft 365 Copilot, including Researcher and Agent Mode in Excel. [15]
Reuters notes that the deal is widely seen as a way for Microsoft and Nvidia to reduce their reliance on OpenAI, even as Microsoft says OpenAI remains a “critical partner.” [16]
Investopedia points out that, in contrast to earlier stages of the AI boom, Microsoft (MSFT) and Nvidia (NVDA) shares actually slipped on the announcement, as investors worry about “circular” deals where AI startups commit huge sums to the same giants that fund them—fueling concerns about an AI bubble. [17]
For Anthropic stockholders—mostly venture funds, employees, and a growing pool of secondary‑market investors—the message is clearer: the company is now structurally tied into all three major clouds (AWS, Google Cloud and now Azure at massive scale), and backed by three of the world’s largest tech companies.
Secondary‑market snapshot: Anthropic stock price on November 18, 2025
Because Anthropic is private, there is no official daily closing price. But today’s secondary‑market platforms offer some of the best real‑time clues about what investors are willing to pay.
Forge Global: Anthropic Forge Price at $185.90
Forge Global, one of the largest marketplaces for private stock, lists an Anthropic Forge Price of $185.90 per share as of 11/18/2025. Forge describes this as a derived price combining data from bids, offers and completed trades to estimate the current private market value of Anthropic shares. [18]
Forge also confirms:
- Anthropic is not publicly traded and has no official ticker.
- The Series F‑4 round on September 2, 2025 priced shares at $140.97, implying a $183 billion post‑money valuation. [19]
That means today’s Forge Price reflects a roughly 32% premium to the primary round price in just over two months—signaling strong secondary demand despite broader market worries about AI valuations.
Hiive: Anthropic more expensive at $221.55
On Hiive, another active venue for pre‑IPO names, Anthropic’s “Hiive Price” shows up at $221.55 per share, with Anthropic flagged as “more liquid than most” private stocks on the platform. [20]
Hiive stresses that:
- These prices come from weighted averages of matches, bids and listings, not an official company‑set price.
- Only accredited and institutional investors can typically transact in Anthropic shares. [21]
The spread between Forge (~$186) and Hiive (~$222) underlines a key point for anyone tracking Anthropic stock: the market is still thin and somewhat fragmented. Different platforms, data models and transaction histories can generate meaningfully different price signals on the same day.
Implied valuation: From $183B to north of $220B
Anthropic’s Series F financing, announced September 2, 2025, valued the company at $183 billion post‑money on a $13 billion raise led by ICONIQ, with participation from big institutions like Fidelity, Baillie Gifford, BlackRock, Blackstone, General Atlantic, and Qatar Investment Authority. [22]
A recent deep‑dive from PM Insights—analyzing composite secondary prices and trading activity through November 10—estimated an implied valuation of about $229 billion, up roughly 25% from that Series F. It also flagged Anthropic as one of the most actively traded private companies, with $2.22 billion in Q3 bid/ask volume and strong price gains over the past 6 to 12 months. [23]
Put differently: even before today’s $15 billion Microsoft–Nvidia deal, secondary investors were already pricing Anthropic well above its last primary round.
Fundamentals: explosive growth, massive spend
Behind those headline valuations is a business that’s scaling at a breakneck pace—and burning equally enormous amounts of cash on infrastructure.
Revenue and customers
In its Series F announcement, Anthropic said: [24]
- It reached about $1 billion in annual run‑rate revenue at the start of 2025.
- By August 2025, run‑rate revenue had surged to over $5 billion, making Anthropic one of the fastest‑growing tech companies in history by some measures.
- The company now serves over 300,000 business customers, and the number of large accounts (> $100,000 run‑rate each) has grown nearly 7× year‑over‑year.
PM Insights adds that by October–November 2025, Anthropic’s revenue run‑rate had approached $7 billion, with strong returns for secondary investors and the highest observed bid and ask volume among top private AI names. [25]
Infrastructure: a $50 billion bet on US data centers
On November 12, Anthropic announced a $50 billion investment in American computing infrastructure, building large AI data centers in Texas and New York with partner Fluidstack, creating roughly 2,400 construction jobs and 800 permanent roles as sites come online in 2026. [26]
The company framed the project as:
- Necessary to serve “hundreds of thousands” of Claude business users.
- Part of a broader national AI infrastructure push under the U.S. AI Action Plan. [27]
When you combine this $50 billion capex with today’s $30 billion Azure commitment, Anthropic is on the hook for at least $80 billion of compute and infrastructure spending over the next several years—an eye‑watering figure that will loom large in any future IPO prospectus.
New deals today: education, skills and heavy industry
The Microsoft–Nvidia partnership isn’t the only Anthropic news hitting wires on November 18.
Coursera + Anthropic: Scaling “Claude skills” to the workforce
Coursera (NYSE: COUR) announced a partnership with Anthropic to launch two AI training specializations focused on Claude: [28]
- “Real‑World AI for Everyone” – aimed at non‑technical professionals who need to understand and safely apply AI tools.
- “Building with the Claude API” – geared toward developers who want hands‑on skills integrating Claude into applications.
Business Wire and financial news outlets describe the initiative as a way to address a widening AI skills gap, citing research that only about a third of employees have received any formal AI training. [29]
For Anthropic stock watchers, this is important because it:
- Deepens the company’s enterprise and professional‑education footprint.
- Creates a pipeline of Claude‑fluent developers, which can reinforce demand for its API and platform over time.
IFS Nexus Black and Anthropic: Industrial AI for “hardcore” sectors
In heavy industry, IFS Nexus Black and Anthropic unveiled a new AI alliance today, centered on a product called Resolve—a Claude‑powered solution designed for predictive maintenance and operational resilience in asset‑heavy sectors such as construction, energy, aerospace, and manufacturing. [30]
Key details from Construction Digital’s report: [31]
- Resolve uses Claude to interpret multimodal data (video, audio, sensor readings, schematics) and anticipate equipment failures.
- Early deployments at distiller William Grant & Sons are already shifting repairs from reactive to proactive maintenance, with projected annual savings in the multi‑million‑dollar range.
- The system is also pitched for disaster response, helping utilities restore power faster after major weather events.
This sort of vertical, industry‑specific AI deployment is exactly what many investors look for as a sign that a frontier‑model provider is turning raw model capability into sticky, high‑value contracts.
Rwanda & ALX: Chidi, a Claude‑based learning companion
Anthropic also announced a major education partnership with the Government of Rwanda and African tech training provider ALX. Together they’re rolling out Chidi, a learning companion built on Claude, across Rwanda’s national education system and ALX’s programs for over 200,000 students and young professionals across Africa. [32]
Highlights include:
- Training up to 2,000 teachers and civil servants on practical AI use in classrooms and government.
- Giving graduates year‑long access to Claude tools, including Claude Pro and Claude Code.
- Using Chidi as a “Socratic mentor,” encouraging learners to reason through problems instead of simply copying answers. [33]
While this is more social‑impact focused than revenue‑maximizing in the short term, it supports Anthropic’s narrative as a company building “beneficial AI”—a theme that resonates with regulators and some long‑term investors.
Risk and regulation: cyberattacks, AI safety and bubble fears
Any serious look at Anthropic stock today also has to consider the downside.
AI‑orchestrated cyber‑espionage
Late last week, Anthropic published a detailed report claiming it had helped disrupt what it called the first largely AI‑orchestrated cyber‑espionage campaign, in which Claude Code was manipulated by a suspected Chinese state‑linked actor to attack around 30 financial firms and government agencies. [34]
The Guardian’s coverage notes that Anthropic estimated 80–90% of the attack operations were handled autonomously by the model, raising alarms among policymakers about how quickly AI‑enabled cyber capabilities are evolving. Some security experts praised the transparency, while others accused Anthropic of over‑hyping what they saw as “fancy automation.” [35]
For investors, the episode is a reminder that:
- Regulatory and liability risks around advanced AI systems are rising fast.
- Any future IPO will be scrutinized not just on revenue, but on safety practices, incident response and governance.
Bubble talk is getting louder
Today’s Microsoft–Nvidia–Anthropic announcement is also feeding the broader debate over an AI investment bubble.
Investopedia reports that despite the huge dollar amounts, Nvidia and Microsoft shares fell on the news, as investors worry that giant “round‑trip” deals—where AI companies commit to buying chips and cloud services from the same firms that fund them—may be inflating revenues and valuations across the ecosystem. [36]
At the same time, Anthropic’s own moves—like committing $50 billion to U.S. data centers and $30 billion to Azure—raise questions about how quickly AI companies can translate massive capex into sustainable, profitable cash flows.
How to get exposure to Anthropic today
Because Anthropic is not listed on public exchanges, most investors cannot simply “buy Anthropic stock” the way they would buy MSFT or NVDA.
1. Secondary markets (accredited investors only)
Platforms like Forge Global and Hiive facilitate trades of Anthropic shares between existing holders (employees, early investors) and new buyers. However: [37]
- Access is generally limited to accredited and institutional investors.
- Deals are often illiquid, subject to company transfer restrictions, and can take weeks to close.
- Prices like the Forge Price ($185.90) or Hiive Price ($221.55) are indicative, not guarantees you can trade at those levels.
Advisory firms that track Anthropic, such as TSG Invest, emphasize that pre‑IPO investing carries high risk, low liquidity, and uncertain exit timing, and should typically be considered only within a diversified, high‑risk capital allocation. [38]
2. Indirect exposure via big‑tech backers
For most retail investors, exposure to Anthropic’s upside (and risk) effectively comes through public companies that own stakes in, or rely on, Anthropic, including:
- Amazon (AMZN) – major strategic investor and Anthropic’s primary cloud and training partner. [39]
- Alphabet / Google (GOOG, GOOGL) – early investor and infrastructure partner. [40]
- Salesforce (CRM) and others that embed Claude into enterprise products. [41]
- Newly, Microsoft (MSFT) and Nvidia (NVDA), which are committing up to $15 billion in new funding plus deep technical collaboration. [42]
Of course, these companies are enormous and diversified; Anthropic is just one of many drivers of their share prices.
3. Waiting for a potential IPO
So far, Anthropic has not announced an IPO timeline. Research from private‑markets advisors underscores that: [43]
- Anthropic has access to ample private capital from strategic backers, reducing pressure to go public quickly.
- Alternative liquidity options (secondary sales, structured funds, future acquisition scenarios) could delay a listing.
For now, any specific Anthropic IPO date is speculation. Investors should assume the company could remain private for several more years, especially after today’s new capital commitments from Microsoft and Nvidia.
What today means for Anthropic stock going forward
Putting it all together, November 18, 2025 looks like a pivotal day in the Anthropic story:
- The Microsoft–Nvidia deal cements Anthropic as a core infrastructure‑scale AI player, tightly integrated with the biggest clouds and chip suppliers. [44]
- Secondary prices have moved well above the Series F round, suggesting investors believe the company can justify a valuation comfortably north of $200 billion—despite rising macro and AI‑bubble worries. [45]
- New partnerships with Coursera, IFS Nexus Black, and the Rwandan Government signal that Anthropic is not just shipping models, but embedding Claude in education, workforce training, and mission‑critical industrial operations—all of which can deepen revenue moats over time. [46]
- At the same time, the $80+ billion in combined infrastructure and cloud commitments, plus rising concerns about AI‑orchestrated cyberattacks and regulatory scrutiny, underline just how risky and capital‑intensive this race has become. [47]
For investors tracking Anthropic stock, today’s message is less “this is a sure thing” and more:
Anthropic is evolving into a systemically important AI company with enormous upside and enormous obligations—financial, technical and ethical.
If you’re considering any exposure—direct or indirect—it’s worth treating Anthropic not as a typical high‑growth startup, but as an early‑stage infrastructure giant whose fortunes will rise or fall on its ability to turn massive capex and partnerships into durable, profitable AI platforms over the next decade.
References
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