Anthropic has selected Nasdaq for its upcoming initial public offering, with preparations reportedly underway for a potential launch as early as October. The company aims to match or exceed the $86,3 billion record set by SpaceX in June. Marketing for the deal is expected to begin in mid-October, with Goldman Sachs, JPMorgan, and Morgan Stanley leading the offering.
The company has seen rapid financial growth, reaching an annualized revenue of over $65 billion. Following a Series H round in May that valued the firm at $965 billion, secondary market trading in July implied a valuation of $1,2 trillion. Analysts suggest the final public valuation could reach as high as $2 trillion, though the company has yet to disclose its gross margins.
To support its operations, Anthropic is expanding its revolving credit facility to $15 billion, up from $2,5 billion a year ago. The company maintains significant capital commitments, including $13 billion from Amazon and $10 billion from Google, alongside ongoing compute lease agreements with Meta and SpaceX.
Despite the IPO push, the company faces scrutiny regarding its capital-intensive growth model. While Anthropic moves toward a public listing, its CEO Dario Amodei has publicly advocated for a slowdown in the AI industry, contrasting with the approach of competitors like OpenAI, which has confirmed it will not pursue an IPO this year.
