Anthropic is reportedly pushing its planned initial public offering to November, setting up what could become one of the largest technology listings ever attempted.
The Claude developer could seek a valuation of roughly $2 trillion and raise as much as $100 billion, according to the Wall Street Journal. The reported timing has shifted from an earlier October target, giving Anthropic more time to present third-quarter financials to investors before the listing.
The numbers are extraordinary even by AI standards. A $100 billion raise would exceed the size of most annual IPO markets and put Anthropics debut alongside the biggest equity offerings in history.
November Could Give Anthropic a Stronger Financial Story
The delay may be strategic rather than a sign that the offering is in trouble.
Anthropic‘s annualized revenue run rate was already above $65 billionby July, and investors are watching whether that growth can continue into the third quarter. A stronger set of financial results could help support the leap from Anthropic’s earlier private valuation toward the $2 trillion figure being discussed for the IPO.
The company has already been linked to a record-size offering with Nvidia potentially investing up to $10 billion, which could give the deal a powerful anchor investor if talks progress.
Anthropics valuation has surged from $4.1B in 2023 toward a potential $2T IPO.OpenAI Competition Is Raising the Stakes
The IPO also arrives as competition with OpenAI intensifies.
Reuters reported that Anthropic is considering accelerating the release of its next AI model after OpenAIs latest system gained enterprise momentum. At the same time, Anthropic may now give itself more time before facing public-market scrutiny by shifting the listing later.
That tension was already visible in the recent IPO-versus-product-launch dilemma, where Anthropic appeared willing to slow the financial timetable while speeding up the technology race.