Anthropic delays IPO launch to mid-October, Reuters reports

Anthropic has pushed back the timeline for its initial public offering, with marketing to investors now expected to begin in mid-October at the earliest, Reuters reported on Friday, citing people familiar with the preparations. The Claude developer could complete its listing just days before the U.S. midterm elections in November, though sources cautioned the schedule remains subject to change.investing+1

The company had previously been expected to make its IPO prospectus public as early as next week, but that step has now slipped to late September. Publication of the prospectus would move the offering into its final stages, giving investors their first public look at Anthropic's financial performance, risk factors, and proposed terms.crypto+1

A Potential Record-Breaker

Some investors believe the listing could value Anthropic at as much as $2 trillion, which would place it among the largest IPOs ever attempted. The company was last valued at $965 billion in a May funding round, when it disclosed an annualized revenue run rate exceeding $47 billion. According to Reuters, Anthropic is forecasting revenue of roughly $190 billion to $200 billion by 2028.tradingview+3

The offering would follow SpaceX's record debut in June at a $1.77 trillion valuation. Anthropic has raised more than $130 billion through private funding rounds, and has not publicly confirmed a valuation target, share count, or offering size.finance.yahoo+1

Banks and Credit Facility

Morgan Stanley ↗ 0.26% is the frontrunner for the lead underwriter role, according to the Financial Times, while Goldman Sachs ↗ 0.07% is expected to serve as stabilization agent overseeing early trading. JPMorgan Chase ↘ 0.94% and Citigroup ↘ 0.30% are also among banks working on the deal, with Barclays ↗ 0.37% expected to hold a key position as well. All banks declined to comment.stocktwits+1

As part of its preparations, Anthropic is working to finalize a $15 billion revolving credit facility, which would provide liquidity without immediate dilution. Analyst meetings are expected to follow the facility's completion, with a potentially compressed timeline given their existing familiarity with the company.startuphub+2

Broader AI IPO Race

The listing arrives amid a wave of anticipated AI company debuts. OpenAI is also considering a public offering, and the market's reception of Anthropic's IPO could influence valuations and timelines across the sector. Commerce Secretary Howard Lutnick said this week that the Trump administration now trusts Anthropic, marking a shift from earlier tensions over AI safety protocols.bloomingbit+1

Anthropic declined to comment on its IPO plans.tradingview