Anthropic is planning to hold its initial public offering in November, delaying a listing that investors had expected to take place in October.
As per a Wall Street Journal report, some of Anthropic’s advisers believe the additional time could allow the company to present third-quarter financial results that demonstrate its competitive position. The timing remains subject to change, the report said.
The Claude developer is expected to meet prospective investors in the coming days as it and its advisers assess demand for the offering. Discussions are likely to include the company’s financial outlook, valuation and the potential impact of changes in the pace of AI model development.
Investors have previously expected Anthropic to seek a valuation of around $2 trillion and raise as much as $100 billion through the IPO. If achieved, those figures would exceed records associated with SpaceX’s June debut.
AI safety debate
The IPO plans come as major AI companies face a broader debate over how quickly frontier AI systems should be developed.
Anthropic CEO Dario Amodei has called for the industry to slow the pace of AI development, citing risks associated with increasingly capable systems. Leaders of other major AI companies, including OpenAI CEO Sam Altman and SpaceX CEO Elon Musk, have also expressed concerns about AI safety and the pace of development.
People familiar with Anthropic’s IPO timing said the decision to target November was made before a warning from a former Anthropic researcher intensified the public debate around AI development.
The company’s advisers and existing investors have argued that a slower pace of new model releases would not necessarily have a major effect on Anthropic’s financial prospects. They point to revenue opportunities from models already available to customers.
An August 17 report from ARK Invest estimated Anthropic’s annualized revenue run rate at more than $74 billion. The estimate was based on third-party data and company disclosures rather than audited financial statements.
IPO and Market Interest
Anthropic is expected to meet potential investors in the coming days to gauge interest in its planned IPO.
The company’s approach to AI safety could also come up in these discussions, especially as a public listing would bring more scrutiny from shareholders and regulators.
Anthropic’s IPO delay also keeps its valuation in focus among crypto traders. Pre-IPO perpetual contracts have traded on crypto platforms since June, with traders previously expecting an October listing.
Jeremy Allaire, CEO of Circle, also supported Anthropic’s plan to go public. In a post on X, Allaire said that going public gives companies a stronger framework for transparency and accountability. “An IPO changes that,” Allaire said, arguing that public markets can bring greater disclosure and governance to frontier AI companies.
Allaire said this could become more important as AI companies play a bigger role in the global economy. He added that an IPO cannot replace regulation but can work alongside clear rules.
Meanwhile, Anthropic is also competing with OpenAI for investor attention.
OpenAI has said it does not expect to go public until 2027 and is discussing new funding that could value the company at more than $1.2 trillion. The ChatGPT developer previously raised more than $120 billion in its latest funding round.
Anthropic is now expected to focus on investor meetings and its third-quarter financial results. The company’s IPO timeline could still change as it moves closer to a potential November listing.
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