Anthropic IPO
Anthropic is said to be aiming for a stock market debut as early as mid-November.
Formal marketing for Anthropic's IPO could begin the week of Nov. 9, people familiar with the plans told Bloomberg News. That timeline would put the company on track to start trading before the Nov. 26 Thanksgiving holiday, when dealmaking usually slows. Anthropic had pushed back an earlier listing date. Now investors expect a debut as early as mid-November and no later than year's end, the people said. It could still shift.
Some prospective investors put Anthropic's fair value at $1.8 trillion to $2 trillion, according to people familiar with the matter. The company wants an offering that matches or beats the size of SpaceX's IPO. Its annual revenue run rate has already topped $100 billion, Crypto Briefing reported. A $65 billion funding round earlier this year pushed its private valuation to roughly $965 billion. On June 1, Anthropic confidentially filed IPO paperwork and is targeting a Nasdaq listing, Crypto Briefing reported.
The maker of the Claude chatbot posted a net loss of nearly $42 billion in 2025, roughly five times the $8.3 billion loss it logged a year earlier, Financial Post reported, citing Bloomberg News. Full-year revenue climbed to about $4.6 billion from $386 million. The operating loss still grew past $8 billion. More than $34 billion of the net loss came from a jump in the fair value of Anthropic's liabilities.
OpenAI has gained sales momentum in recent months. Anthropic now faces renewed competition from its rival. Both companies face scrutiny over AI safety after a string of hacking incidents involving rogue AI agents. Dario Amodei, Anthropic's chief executive, has argued in a personal essay that the pace of AI development needs to slow. Sam Altman, OpenAI's chief executive, has said it would be unwise for his company to go public now. OpenAI has pushed its own IPO plans to 2027, Crypto Briefing reported.
Retail investors are chasing pre-IPO access to shares of both companies, a surge in demand that followed SpaceX's June IPO, Crypto Briefing reported. That offering allocated up to 30% of its shares to individual investors. Platforms offering early access to private shares have seen their audiences grow by 30% since.
Anthropic has warned investors. Shares bought through unauthorized platforms, including Forge Global and Hiive, may be invalidated once the company goes public, Crypto Briefing reported.