AI giant Anthropic is targeting a listing as early as October, placing itself at the centre of what could become one of the most significant tech IPOs in years.
The San Francisco-based company, best known for its Claude chatbot, has begun preliminary discussions with leading Wall Street banks including Goldman Sachs, JPMorgan Chase and Morgan Stanley about underwriting roles, according to reports.
While the plans remain under consideration, an October listing would land at a pivotal moment for markets, with AI firms attracting unprecedented levels of capital and scrutiny.
Founded in 2021 by former researchers from OpenAI, Anthropic has rapidly established itself as a major force in generative AI.
Its Claude models are used across industries for tasks including coding, automation and enterprise workflows, while the company has built a reputation for emphasising safety in AI development.
Race for capital intensifies ahead of IPO
Anthropic’s IPO ambitions follow a surge in funding that has propelled its valuation to around $380bn after a $30bn raise earlier this year.
The company has secured backing and strategic partnerships from major tech players including Alphabet, Amazon, Microsoft and Nvidia, reflecting the growing importance of compute power and infrastructure in the AI race.
A public listing would provide fresh capital to fund expansion, including plans to invest heavily in data centres and scaling its models, while also offering an exit route for early investors and employees.
The move comes as competition intensifies across the sector, with rivals such as Google DeepMind and OpenAI also pushing to dominate the next phase of AI development.
Investor appetite is already evident, with asset managers having begun filing for exchange-traded funds tied to Anthropic and other anticipated listings.
However, market volatility, regulatory scrutiny and the high cost of building AI infrastructure could complicate the path to listing. Anthropic will also face pressure to demonstrate a clear route to profitability once public.
If it proceeds, an October IPO would not only mark a milestone for Anthropic but could set the tone for how public markets value the next generation of AI companies.
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