Anthropic, the developer of Claude, is moving ahead with plans for a large initial public offering, with Morgan Stanley, Goldman Sachs and JPMorgan already arranging preliminary meetings between the company’s management and investors. Those talks are intended to gauge institutional demand and the likely size of commitments ahead of a potential listing.
The company is targeting an IPO as early as October. If that timeline holds, Anthropic could reach the public market before rival OpenAI. Its latest financing round also gives investors a fresh valuation reference: in May, Anthropic raised $65 billion in its Series H round at a post-money valuation of $96.5 billion, while its valuation in the over-the-counter market has climbed to about $120 billion.
Policy risk remains a factor. The U.S. Department of War in March classified Anthropic as a national security “supply chain risk” company, and Anthropic has sued the federal government over that measure. Separately, the U.S. Department of Commerce in June restricted foreign access to the top AI models Fable 5 and Mythos 5, then lifted the export controls 18 days later.
Anthropic, the company behind the Claude AI model, is moving forward with plans for a large initial public offering. Morgan Stanley, Goldman Sachs and JPMorgan, which are serving as underwriting banks, have arranged preliminary meetings between Anthropic’s management and investors to test institutional appetite and assess potential order size.
The company is targeting a listing as early as October. If the plan goes through on schedule, Anthropic could enter the public market ahead of rival OpenAI.
Valuation and fundraising
In May, Anthropic raised $65 billion in its Series H financing round, giving the company a post-money valuation of $96.5 billion. Its valuation in the over-the-counter market has already reached about $120 billion.
U.S. government actions remain a variable
U.S. government measures are still a variable for the offering. In March, the U.S. Department of War designated Anthropic as a national security “supply chain risk” company. Anthropic has sued the federal government over that action.
Separately, the U.S. Department of Commerce in June restricted foreign access to the top AI models Fable 5 and Mythos 5, then removed the export controls 18 days later.
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