Abstract:
According to Yahoo Finance, three people familiar with the matter revealed that artificial intelligence company Anthropic will publicly submit an S-1 investor prospectus as early as this Friday. The move would be a key step for the company in what is expected to be the largest IPO in history. The high-profile IPO, expected to surpass SpaceX's (SPCX) IPO in June, is widely seen as a key test of investor interest in the artificial intelligence boom as investors grow concerned about the industry's huge spending.
Anthropic confidentially submitted a draft IPO registration statement to the U.S. Securities and Exchange Commission (SEC) in June. According to SEC regulations, companies using a confidential process must disclose their registration materials 15 calendar days before the official investor roadshow begins.
Anthropic did not respond to a request for comment regarding the timing of its S-1 filing.
The public filing will clear key procedural hurdles for a November listing, but the specific time to market 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 artificial intelligence industry’s fastest-growing companies.
Anthropic is spending billions on artificial intelligence infrastructure to train and run its suite of Claude models. This includes working with Google (GOOG, GOOGL) and Amazon (AMZN), as well as leasing graphics processing unit (GPU) capacity from SpaceX's Colossus 1 data center.
According to a report by the Wall Street Journal on Tuesday, the company's revenue in the first half of 2026 was US$16.3 billion and its net loss exceeded US$80 billion. Reuters previously reported that Wall Street expected the company to be valued at US$2 trillion and raise financing of up to US$100 billion.
Anthropic told investors last week at its San Francisco offices that its third-quarter revenue climbed to $16.8 billion, up from $11.5 billion in the second quarter, the Financial Times reported, noting that it was also profitable on an adjusted basis.
In the context of increasingly fierce competition in the IPO market this year, this huge financing is particularly eye-catching. Earlier this week, South Korean data center provider Elice saw its share price plummet 32% on its first day after raising $151 million. Nvidia-backed Firmus Grid abruptly shelved plans to go public earlier this month amid investor objections to its proposed valuation. In addition, several companies have postponed listing plans, citing market conditions.
The share prices of listed artificial intelligence-related companies have also fluctuated in recent days as investors have become more cautious about the huge spending needs of the artificial intelligence industry. CoreWeave, in particular, has come under scrutiny as investors question its future revenue prospects in relation to its debt load.
The shift highlights how investors who enthusiastically bought into artificial intelligence-related companies earlier this year have become more discerning.
Given Anthropic's sheer size, the timing of its IPO is also expected to have a significant impact on other companies seeking to go public in the coming weeks, a person familiar with the matter said.
Anthropic has a strong foothold in the enterprise market with its Claude chatbot, popular AI coding tools Claude Code, and Claude Cowork.
Rival OpenAI had planned an IPO this year but is now expected to go public in early 2027.
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