Anthropic delays IPO launch until October with potential $2 trillion valuation
Anthropic plans to begin marketing its initial public offering no earlier than mid-October, although a key step in the process had previously been expected in September. The company aims to complete the listing just days before the U.S. midterm elections in November.
According to Reuters, Anthropic had previously been expected to make its IPO prospectus public as early as next week. That step, which would launch the final stages of the offering, is now expected no earlier than late September, people familiar with the matter said.
The sources cautioned that the timetable could still change. Adjustments to IPO schedules are common and can depend on market conditions, regulatory reviews and the company's own preparations.
Anthropic could reach $2 trillion valuation in IPO
The offering could become one of the largest in history. Some investors believe Anthropic could be valued at around $2 trillion, making the IPO a major test of public-market demand for artificial intelligence companies.
As part of its preparations, Anthropic is also working to finalize a $15 billion revolving credit facility. Once the financing is completed, the company is expected to hold meetings with analysts, including those at banks involved in the deal.
Companies typically leave several weeks between such meetings and the publication of an IPO prospectus. In Anthropic's case, however, the window could be shorter because analysts are already familiar with the company's business.
Morgan Stanley, Goldman Sachs, JPMorgan and Citi are working on the IPO, according to Reuters sources. Anthropic and the banks declined to comment.
Listing could take place before U.S. elections
If the current timetable holds, marketing of the IPO to investors will begin no earlier than mid-October. Anthropic aims to complete the offering just days before the U.S. midterm elections in November.
The company's public debut would be one of the most anticipated listings as investors seek direct exposure to the rapidly growing AI industry. Other companies in the sector, including OpenAI, are also considering potential IPOs.
Preparations for the listing come as Anthropic rapidly expands its infrastructure. On September 1, the company signed a $35 billion agreement with Nvidia-backed cloud platform Lambda to secure additional computing capacity.
A large data center in Texas will be a central part of the deal. The agreement extends Anthropic's multibillion-dollar investments in infrastructure needed to train and operate more powerful artificial intelligence models.
Earlier, we reported that the U.S. called for a less restrictive approach to artificial intelligence regulation at a G20 meeting in North Carolina. The U.S. administration is promoting policies aimed at limiting regulatory barriers to the development of the AI industry.
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