Five things to know about Anthropic ahead of Wall Street debut

Anthropic, a rival to OpenAI, plans to go public soon in a listing that could surpass SpaceX's record Wall Street debut in June. Here are five crucial facts about the company:

1. Anthropic was co-founded by former OpenAI executives in 2021, aiming to prioritize AI safety and understanding the potential of AI. Led by CEO Dario Amodei, Anthropic boasts a workforce of 5,000 employees and has projected annual revenue of $65 billion due to its popular Claude Code assistant for developers.

2. Despite being considered a second-place competitor to OpenAI, Anthropic has emerged as a leader in coding AI, with its products commanding significant financial interest. However, the company has faced political challenges, including being labeled a supply chain risk by the Trump administration for refusing to grant the military access to its AI models.

3. Anthropic's financial situation is financially demanding, with the company losing $42 billion in 2025 and likely continuing to incur losses for years to come. In order to attract investors, Anthropic has promised potential revenue opportunities exceeding $30 trillion, similar to SpaceX's strategy.

4. Both Anthropic and OpenAI have required vast amounts of computing power and infrastructure for developing advanced AI models, making them vulnerable to competition from countries like China. This has led to heavy investment from venture capitalists and potentially, sovereign wealth funds, with the ultimate goal of going public.

5. Similar to OpenAI, Anthropic is considering going public, but the company foresees losses similar to SpaceX's IPO experience. While SpaceX's shares declined after their listing, Anthropic's investors may need to tolerate significant losses until a robust business model is established for their AI vision.