Anthropic, the San Francisco-based artificial intelligence company behind the Claude chatbot, is set to publicly file its S-1 investor prospectus as soon as Friday, according to multiple reports.
The move would mark a significant step toward what could be the biggest initial public offering (IPO) in history, widely expected to surpass the June listing of SpaceX, the Elon Musk-founded rocket company.
Anthropic confidentially submitted a draft registration statement to the Securities and Exchange Commission (SEC) in June, and under SEC rules companies must make their materials public at least 15 calendar days before the start of their formal investor roadshow.
November listing
A public filing would clear a key procedural hurdle toward a potential November listing, though the timing of the offering remains subject to market conditions.
It would also give ordinary investors their first detailed look at the financial position and risks of one of the AI industry's fastest-growing companies.
Wall Street is anticipating that Anthropic could raise as much as $100 billion at a $2 trillion valuation, according to a previous Reuters report.
The company pulled in $16.3 billion in revenue over the first six months of 2026 and reported a net loss of more than $80 billion, according to the Wall Street Journal.
Revenue climbed to $16.8 billion in the third quarter, up from $11.5 billion in the second quarter, and the company is also profitable on an adjusted basis, according to the Financial Times.
Heavy investment
Anthropic is spending heavily on AI infrastructure to train and operate its suite of Claude models, working with Google and Amazon and renting graphics processing unit (GPU) capacity from SpaceX's Colossus 1 data centre.
The company was co-founded by chief executive Dario Amodei and his sister Daniela, Anthropic's president, who left OpenAI to set up the firm in 2021.
Read more
- 13/09/26Anthropic IPO odds rise as Altman rules out a 2026 float for OpenAI
- 26/08/26Anthropic sees more than $30 trillion in potential revenue as it prepares IPO
- 20/05/26OpenAI prepares to file for IPO within days as AI's blockbuster listing season takes shape
The IPO comes as the broader market for new listings is becoming more challenging, with shares in South Korean data centre provider Elice plummeting 32% on its trading debut earlier this week.
Nvidia-backed Firmus Grid abruptly shelved plans for a public listing this month after investors balked at its proposed valuation, while publicly traded AI companies have also sold off in recent days.
Given the scale of the Anthropic offering, its timing is expected to influence other companies seeking to go public in the coming weeks, one person familiar with the matter said.
Rival OpenAI, which had been expected to list this year, is now projected to hit the public markets in early 2027.
