Anthropic Targets Pre-Thanksgiving IPO at $2 Trillion Valuation

Anthropic, an artificial intelligence company, is planning to launch its initial public offering (IPO) before the Thanksgiving holiday on November 26, according to a Bloomberg report on October 1. The company is still deciding on the exact timing of the IPO, which could be changed, the report suggests. Prospective investors anticipate the IPO valuation could range from $1.8 trillion to $2 trillion, as per the report.

Anthropic filed for an IPO confidentially on June 1, with the timing dependent on market conditions and other factors.

The Wall Street Journal reported on September 18 that Anthropic had initially planned for a November IPO, which was later than the expected October debut. This date may have been chosen to allow the company to share its third-quarter financials, which were expected to demonstrate strong results. Reuters, in a report on September 28, revealed that Anthropic's IPO prospectus showed a $42 billion net loss in the previous year and projected $518 billion in spending on cloud, computing, and infrastructure needs in the future.

The prospectus also highlighted the company's rapid growth in the past year, with revenue increasing to nearly $4.6 billion, a twelve-fold increase, while operating losses exceeded $8 billion, excluding write-downs related to past fundraising.

Anthropic's IPO filing indicates that the company is establishing a Founder LLC vehicle, composed of its seven co-founders, which will prioritize the firm's mission even when it conflicts with market forces. A single Class F stock share represents 50.1% of voting power over corporate matters, such as the election of some board members, and will be managed by a majority vote of the seven co-founders.