Anthropic is arranging meetings between its executives and prospective investors as the artificial intelligence company moves closer to a potential initial public offering, according to CNBC. Goldman Sachs $GS, Morgan Stanley $MS, and JPMorgan $JPM Chase are leading the IPO effort, with bankers gauging how much appetite exists among investors before a roadshow and share sale take place.
The company is targeting a debut as soon as October, though the timing could still change. An Anthropic spokesperson didn't comment.
Anthropic's preparations reflect a broader resurgence in the IPO market driven by enthusiasm for AI-related companies. According to Bloomberg data, listings so far this year have brought in $227.5 billion — a total that, when blank-check firms and similar vehicles are stripped out, stands as the highest annual haul since 2021.
An Anthropic debut would leave rival OpenAI in its wake; OpenAI had once aimed for a fall 2026 listing but has since pushed that timeline back to 2027. Both companies have filed confidentially with the Securities and Exchange Commission.
Anthropic submitted its confidential IPO prospectus to the SEC last month. At the time, the company said the filing "gives us the option to go public after the SEC completes its review," adding that the offering would depend on market conditions. No share count or price range has been disclosed.
Anthropic's May funding round, worth $65 billion, placed the company's valuation at $965 billion — for the first time putting it ahead of OpenAI's $852 billion figure. The company has seen rapid revenue growth, fueled in part by demand for Claude Code, its AI coding assistant. Anthropic was founded in 2021 by a group of former OpenAI researchers and executives.
The potential listing would follow SpaceX's IPO in June, and a U.S. listing last week by memory chipmaker SK Hynix, both of which were tied to AI infrastructure demand. Anthropic also faces uncertainty stemming from its relationship with the Trump administration, which placed temporary foreign access restrictions on two of its models.