The latest
Anthropic is seeking meetings with investors ahead of a potential initial public offering as artificial intelligence companies race to enter public markets.
Banks leading the offering are arranging meetings between investors and the Claude chatbot maker in the coming weeks, according to people familiar with the plans. Anthropic is considering an IPO in October, though the timing and other details could still change.
Moving ahead would put Anthropic ahead of OpenAI, which is now targeting a 2027 listing after previously considering a fall 2026 debut. Both companies have filed confidentially for their respective offerings.
Details
- Lead banks: Anthropic is working with Morgan Stanley, Goldman Sachs and JPMorgan Chase on the potential IPO.
- Valuation: Anthropic was valued at $965 billion after a funding round completed in May, making it one of the world’s largest private companies.
- Revenue growth: The listing plans follow strong revenue growth and rising adoption of Anthropic’s models, particularly tools designed to streamline coding.
- Competitive race: Anthropic could also list before Chinese AI company DeepSeek, which is preparing for an IPO filing that could come this year.
- Company response: An Anthropic representative declined to comment on the potential offering.
- Government relationship: The company faces continued uncertainty in its relationship with President Donald Trump’s administration, which briefly restricted foreign access to two of its leading models.
- Legal dispute: Anthropic previously sued the U.S. Defense Department after it declared the company a risk to the American supply chain.
Between the lines
An IPO could make Anthropic the first major developer of generative AI models to reach public markets, giving investors a new benchmark for valuing the sector and increasing pressure on rivals to accelerate their listing plans.
What to watch
Attention now turns to the outcome of investor meetings, the final valuation and size of the offering, and whether Anthropic maintains its October target amid market volatility and its uncertain relationship with the U.S. government.
