Anthropic, the developer of Claude AI, has scheduled an investor day for October 14. This event serves as a precursor to the company's planned initial public offering, with paperwork filed with the SEC in June 2026. The listing is targeted for late 2026, specifically following the US midterm elections in November to mitigate market volatility.
Financial disclosures reveal significant growth, with 2025 revenue reaching nearly $4.6 billion, a 12-fold increase year-over-year. The company projects an annualized run rate exceeding $65 billion by July 2026, with targets of $100 billion to $200 billion by 2028. However, 2025 also saw an operating loss of $8.06 billion and a net loss of $42 billion.
The company has committed at least $518 billion to AI infrastructure over the next decade, largely through agreements with Amazon, Google, and Microsoft. Approximately 80% of these commitments are non-cancelable. Anthropic has secured $125 billion in private funding, and in May 2026, its private valuation reached $965 billion. A public listing could exceed $2 trillion.
Morgan Stanley, Goldman Sachs, JPMorgan, and Citigroup are managing the underwriting process. As Anthropic transitions to a public company, it will be subject to quarterly reporting requirements. The prospectus highlights AI safety concerns as a primary risk factor, reflecting the company's historical focus on the responsible deployment of its technology.
