Anthropic is preparing an IPO that could value the company at up to $1.4 trillion. CFO Krishna Rao’s 9.497 million shares, acquired through options with a $1.30 exercis…
Anthropic IPO and the Rao Options
Anthropic PBC, the artificial intelligence company behind the Claude model, is moving toward a US listing that could value it at as much as $1.4 trillion. The proposed offering covers 825,000,000 Class A shares, of which 801,351,354 are to be issued by the company and 23,648,646 sold by existing stockholders. Anthropic intends to list on the Nasdaq Global Select Market under the symbol ANT, with the price band indicated at $70 to $78 per share.
Why the CFO Stake Matters
Chief Financial Officer Krishna Rao, who joined in April 2024, holds beneficial ownership of 94.97 lakh shares as of September 30, 2026, according to the company's registration statement with the US Securities and Exchange Commission. This comprises directly held shares and underlying stock options held by him and a trust he controls. The options carry an exercise price of $1.30. At the proposed $74 per share price, the gain works out to roughly 5,600%. At the upper band of $78, the holding could be worth about ₹6,965.76 crore, or close to ₹7,000 crore.
Rao's background is relevant to the offering. He was CFO at Fanatics Commerce and spent October 2015 to July 2021 at Airbnb in roles including Global Head of Corporate & Business Development and Director of Financial Planning & Analysis. He began his career at Bain as a strategy consultant from September 2005 to July 2008.
What to Watch
For Indian founders, executives and investors holding options in overseas entities, the structure of such grants, their exercise mechanics and the timing of cross-border tax events will draw scrutiny. Indian companies with global ambitions may also study how US listing disclosures quantify promoter and key managerial holdings. The final price band, the allocation between fresh issue and offer for sale, and the vesting and lock-in terms attached to executive options remain open. Readers should track the updated filings and any subsequent revisions to the share count or price range…
Services related to this update
Want this handled for you?
Get a free expert consultation and an exact quote within 24 hours.
Get free quote
