Anthropic postponed the public release of its IPO prospectus from early September to late September, delaying its marketing launch to mid-October at the earliest [1, 2, 3, 4, 5, 6]. The company aims to complete its initial public offering just days before the US midterm elections in November [1, 2, 3, 4, 5, 6].
The IPO is expected to be among the largest ever attempted by a technology firm. Some investors estimate Anthropic's valuation could reach around $2 trillion, potentially surpassing SpaceX’s $1.77 trillion valuation at its June IPO [1, 2, 3, 4, 5, 6]. As part of the IPO process, Anthropic is working to finalize a $15 billion revolving credit facility, which will precede analyst meetings with the company [1, 2, 3, 4, 5, 6].
Morgan Stanley, Goldman Sachs, JPMorgan, and Citi are the main banks underwriting Anthropic’s IPO [1, 2, 3, 4, 5, 6]. Anthropic declined to comment on its IPO plans [1, 2, 3, 5, 6].
The company’s annualized revenue as of July reached approximately $65 billion, up from $47 billion in May but below some investor expectations of over $80 billion [4, 6]. Anthropic faces growing competition from OpenAI, which is expected to pursue its own IPO as early as next year, with Morgan Stanley and Goldman Sachs also involved in underwriting that offering [4].
Anthropic’s next concrete step will be the public release of its IPO prospectus in late September, followed by the anticipated start of marketing efforts in mid-October [1, 2, 3, 4, 5, 6]. The completion of the listing is targeted for November, just days before the US midterm elections.
