Sources say Anthropic could file for IPO as early as Friday
Anthropic confidentially submitted a draft IPO registration statement to the SEC in June, and is reported to make the S-1 filing public as early as this Friday, clearing procedural hurdles for a November listing. According to The Wall Street Journal, the company posted revenue of $16.3 billion and a net loss of more than $80 billion in the first half of 2026; the Financial Times said its third-quarter revenue rose to $16.8 billion, up from $11.5 billion in the second quarter, and it achieved profitability on an adjusted basis. Reuters previously reported that Wall Street expects its valuation could reach $2 trillion, with fundraising of up to $100 billion.
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The report lays out Anthropic's listing timetable along with revenue and loss figures, offering a basis for observing the company's financial profile as it races toward an IPO.
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Anthropic confidentially submitted a draft IPO registration statement to the U.S. Securities and Exchange Commission (SEC) in June. Under SEC rules, companies using the confidential process must make their registration materials public 15 calendar days before the formal investor roadshow begins.
Anthropic did not respond to a request for comment on the timing of its S-1 filing.
The public filing will clear a key procedural hurdle for a November listing, but the exact timing still depends on market conditions and other factors. Crucially, it will also give ordinary investors their first look at the financial details and risks of one of the fastest-growing companies in the AI industry.
Anthropic is spending billions of dollars on AI infrastructure to train and run its Claude model suite. This includes partnerships with Google (GOOG, GOOGL) and Amazon (AMZN), as well as renting graphics processing unit (GPU) capacity from SpaceX's Colossus 1 data center.
According to a Wall Street Journal report on Tuesday, the company had revenue of $16.3 billion in the first half of 2026 and a net loss of more than $80 billion. Reuters previously reported that Wall Street expects the company's valuation could reach $2 trillion, with fundraising of up to $100 billion.
According to the Financial Times, Anthropic told investors at its San Francisco office last week that its third-quarter revenue climbed to $16.8 billion, up from $11.5 billion in the second quarter, and noted that the company was also profitable on an adjusted basis.
The massive fundraising stands out amid increasingly fierce competition in this year's IPO market. Earlier this week, South Korean data center provider Elice saw its shares plunge 32% on its first day of trading after raising $151 million. Nvidia-backed Firmus Grid abruptly shelved its listing plans earlier this month after investors objected to its proposed valuation. Several other companies have also postponed their listing plans, citing market conditions.
In recent days, shares of listed AI-related companies have also fluctuated as investors have become more cautious about the AI industry's enormous spending needs. CoreWeave in particular has come under close scrutiny as investors question the relationship between its future revenue prospects and its debt burden.
This shift highlights that investors who enthusiastically bought AI-related companies earlier this year have now become more discerning.
A person familiar with the matter said that given Anthropic's enormous size, the timing of its IPO is also expected to have a significant impact on other companies seeking to list in the coming weeks.
Anthropic has established a firm foothold in the enterprise market with its Claude chatbot, the popular AI coding tool Claude Code and Claude Cowork.
Competitor OpenAI had originally planned to hold its IPO this year, but is now expected to list in early 2027.