Archive · 3 Oct 2026
Anthropic Eyes November IPO Amid Competition and Heavy Losses
Anthropic, the company that makes Claude, is thinking about selling shares to the public.
It might start telling investors about the sale during the week of November 9.
If that happens, its shares could start trading before Thanksgiving, but the plan may change.
The company is expected to go public by the end of 2026.
It is preparing to meet possible investors in San Francisco on October 14.
Some investors think Anthropic could be worth between $1.8 trillion and $2 trillion.
The company earned about $4.6 billion in 2025, but it also reported very large losses.
Anthropic faces competition from OpenAI and scrutiny about the safety of advanced AI.
Anthropic could begin marketing its IPO during the week of November 9, potentially trading before Thanksgiving on November 26.
The company is still expected to go public by the end of 2026, but its timeline remains unsettled.
Anthropic is preparing to meet prospective investors at its San Francisco headquarters on October 14.
Some prospective investors reportedly place Anthropic’s potential valuation between $1.8 trillion and $2 trillion.
Anthropic reported 2025 revenue of about $4.6 billion, an operating loss exceeding $8 billion, and a net loss near $42 billion.
- Who
- Anthropic, the AI company behind Claude, and prospective investors.
- What
- Anthropic is considering an IPO and could begin marketing it in November.
- When
- Marketing could start the week of November 9; a debut could come before November 26, though the schedule may change.
- Where
- Anthropic is preparing investor meetings at its San Francisco headquarters.
- Why
- The company is preparing a possible public offering amid investor interest, AI competition, and scrutiny of its financial results.
Investor Interest and IPO Potential
Uncertainty and Market Risks
Valuation and demand
Investor Interest and IPO Potential
Some prospective investors reportedly see a valuation of $1.8 trillion to $2 trillion, and Anthropic is reported to be targeting an offering comparable in size to SpaceX’s.
Uncertainty and Market Risks
The valuation and offering plans are reported expectations, while the IPO schedule remains under discussion and may shift.
Financial performance
Investor Interest and IPO Potential
Anthropic’s 2025 revenue rose to about $4.6 billion from $386 million in 2024.
Uncertainty and Market Risks
The company reported more than $8 billion in operating losses and nearly $42 billion in net losses in 2025.
AI market conditions
Investor Interest and IPO Potential
Anthropic is proceeding with preparations for a possible offering despite delays among other prospective issuers.
Uncertainty and Market Risks
OpenAI has gained sales momentum, AI safety concerns have intensified after high-profile hacking incidents, and recent IPO performance has been weak.
- Possible marketing start
- Week of November 9
- Thanksgiving
- November 26
- Expected IPO deadline
- By the end of 2026
- Investor meeting
- October 14 at Anthropic’s San Francisco headquarters
- Reported valuation range
- $1.8 trillion to $2 trillion
- 2025 revenue
- About $4.6 billion, up from $386 million in 2024
- 2025 losses
- More than $8 billion operating loss and nearly $42 billion net loss
- Liability revaluation
- More than $34 billion of the 2025 net loss was attributed to changes in the fair value of liabilities
