Anthropic plans to go public as early as mid-November, valued at up to $2 trillion

Citing people familiar with the matter, Bloomberg reports that Anthropic is seeking to go public as early as mid-November after delaying its original plan. The company may start its IPO roadshow the week of Nov. 9 and aims to list before Thanksgiving on Nov. 26. Details are still under discussion and timing could change.

Anthropic has had strong momentum this year, but competition is heating up as rival OpenAI's sales growth has picked up again in recent months. Meanwhile, a series of high-profile hacks by out-of-control AI agents has put AI safety under more public scrutiny, which could affect Anthropic's listing process. CEO Dario Amodei has argued for slowing down the development of next-generation AI models.

People familiar with the matter say these concerns have not dampened potential investor interest. Some investors believe a fair valuation is around $1.8 trillion to $2 trillion, and the IPO size could match or exceed SpaceX. Documents show Anthropic's 2025 revenue is about $4.6 billion, but its net loss is nearly $42 billion, mainly due to changes in the fair value of liabilities.