Anthropic Moves Toward Mid-October IPO Launch, Reuters Says
AI Company’s Prospectus Could Be Published by Late September
Anthropic Moves Toward Mid-October IPO Launch
Anthropic is expected to begin marketing its initial public offering no earlier than mid-October, according to people familiar with the matter cited by Reuters. The artificial intelligence company could complete its stock-market listing just days before the U.S. midterm elections in November, although the timetable remains subject to change.
Anthropic had previously been expected to publish its IPO prospectus as early as next week. The document, which marks a critical step toward launching the offering, is now not expected until late September, the sources said. Companies often adjust IPO schedules because of market conditions, regulatory reviews, and other preparations.
The revised timeline delays what some investors believe could be a listing valued at as much as $2 trillion. Such an offering would rank among the largest IPOs in history and serve as a major test of public-market appetite for companies benefiting from the rapid expansion of artificial intelligence.
As part of its preparations, Anthropic is working to complete the credit facility, after which analysts including representatives from banks involved in the financing are expected to meet with the company. Analysts typically meet with an issuer several weeks before an IPO prospectus is published, although Anthropic could follow a tighter schedule because many analysts are already familiar with the company.
Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup are among the banks reportedly working with Anthropic on the offering. Anthropic declined to comment, while Goldman Sachs, Citi and JPMorgan also declined to comment, and Morgan Stanley did not immediately respond to requests for comment.
The IPO marketing campaign has been pushed back from earlier expectations, with the offering potentially becoming one of the largest public listings ever.
Key Point
The IPO marketing campaign has been pushed back from earlier expectations, with the offering potentially becoming one of the largest public listings ever.
Anthropic is seeking to finalize a $15 billion revolving credit facility before moving further into the IPO process.
Anthropic’s IPO could coincide with potential listings from other major AI companies, including OpenAI, intensifying investor focus on the sector. The timing and valuation remain uncertain, and the company’s plans may change as it completes financing, regulatory and market preparations.
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Ali Merchant is a seasoned financial markets professional specializing in technical analysis, treasury & capital markets, trading, research, and fund management. He is Strategic Advisor at Musaffa and Founder of TWT Learning, which provides education, research, and advisory services to fund and hedge managers and family offices. Ali has traded FX, FX options, US stocks & options, indices, commodities, oil and metals futures, and holds a CMT charter with memberships in AAPTA and CMT, US & Canada. He has worked with ABN AMRO, Thomson Reuters/Refinitiv, MAK Allen & Day Capital, and Bridge Information Systems, produced TA reports for Bloomberg and Reuters, and trained 2,000+ market participants across North America, the GCC and Asia.