Anthropic unveiled a workplace suite on Tuesday that puts it in direct competition with Microsoft and Google, two of its own investors, as the company began the roadshow for an initial public offering that could value it at as much as $1.405 trillion.

Chief Product Officer Ami Vora hosted a livestream scheduled to start at 12:30 p.m. ET to present the new products, which include Claude Sheets, a spreadsheet service modeled on Microsoft Excel and Google Sheets with Anthropic's AI woven throughout. Several of the tools ship as betas for paying customers.

Microsoft stock had slipped 3% by 12:43 p.m. ET on the day of the announcement.

What does the new suite actually contain?

Beyond Claude Sheets, Anthropic introduced:

• an assistant for video calls;
• a tool for building data dashboards;
• a feature that lets businesses such as Adobe, Atlassian and HubSpot run versions of their current apps inside Claude.

Anthropic product leader Nicholas Lin told Bloomberg that Claude Sheets offers only a simple experience and is not built for sophisticated tasks like financial modeling. He said those situations would be better handled by Anthropic's plug-ins, which connect to the spreadsheet programs people already use.

Lin added that there is "a time and place" for Microsoft and Google products in advanced enterprise uses — a signal that Anthropic intends to coexist with incumbents in complex deployments while targeting everyday work with its native tools.

How large is the IPO?

The product launch coincided with the start of Anthropic's IPO roadshow on Tuesday. The company set an expected price range of $70 to $78 a share; at the top of that range, the fully diluted valuation could reach $1.405 trillion, according to CNBC.

Anthropic has applied to list its Class A stock on the Nasdaq Global Select Market under the symbol "ANT." Its registration statement has not yet become effective, and the company expects pricing and its Nasdaq debut before the U.S. Thanksgiving holiday.

The timing is deliberate. A consumer-visible product launch days before pricing gives underwriters a fresh narrative: Anthropic is not only a model provider but a software vendor competing for the same desktop budgets that Microsoft 365 and Google Workspace currently hold.

What do the revenue figures show?

In a filing on Tuesday, Anthropic said its revenue run rate reached $81 billion as of Oct. 31, an increase of $10 billion since the end of September. A $10 billion addition to the run rate in roughly one month ranks among the fastest expansions a pre-IPO software company has reported.

That growth underpins the valuation math. Investors weighing the $70-to-$78 range will measure the price against a run rate that is still compounding at double-digit percentages month over month.

Where do Microsoft and Google stand?

Microsoft and Google are among seven companies that agreed to buy $26 billion of Anthropic's Class N common stock in a private placement at the IPO price. The purchase depends on the IPO being completed.

That arrangement leaves Anthropic's largest rivals as committed shareholders even as Claude Sheets and the dashboard tool chase the same customers. For practitioners, the practical consequence is a market where the incumbent suite vendors profit from the challenger's listing while their products face a new entrant backed by their own capital.

What should buyers watch next?

Three dates and figures frame the story: the pricing expected before Thanksgiving, the $70-to-$78 range, and the $26 billion private placement contingent on completion. Enterprise teams evaluating Claude Sheets should note Lin's own framing — the tool targets simple spreadsheet work, while financial modeling and advanced use cases stay with Excel, Google Sheets and Anthropic's plug-ins that connect to them.

The betas are available to paying customers now, which gives procurement teams a direct comparison window before the stock begins trading.