Anthropic is preparing for an initial public offering, with current plans targeting a November window. The company delayed the listing from the previously expected October timeframe to allow for the presentation of third-quarter financial results to potential investors. Reports suggest that the timeline could potentially extend beyond the November midterm elections, and public offering documents may be released within the coming weeks.
The company is also evaluating the release of a new AI model ahead of its roadshow. This decision follows the September 3 launch of OpenAI’s Astra, which has captured approximately 13% of enterprise AI spending according to Ramp data, while Anthropic’s Claude Fable holds about 8%. OpenRouter data indicates that recent user spending favored OpenAI over Anthropic for the first time in over two years.
Despite competitive pressures, Anthropic projects its annualized revenue to reach $100 billion by the end of the year, up from $65 billion in July. Investors are using this growth trajectory to support a potential valuation near $2 trillion. CEO Dario Amodei recently published an essay advocating for a slower pace in AI capability development, which remains a factor in the company’s internal product strategy.
