Anthropic Prepares for 2026 IPO
According to the Financial Times, Anthropic, the AI startup backed by Google and Amazon, has hired California law firm Wilson Sonsini to prepare for an initial public offering that could take place as early as 2026.
$300 Billion+ Funding Round in Progress
Simultaneously, Anthropic is negotiating a private funding round that could give the company a valuation exceeding $300 billion. Last month, Microsoft and Nvidia announced plans to invest up to $15 billion in Anthropic, including a $30 billion commitment for the Claude maker to use Microsoft’s cloud services.
Racing OpenAI to Public Markets
Rival OpenAI is also preparing for what could become one of the largest public offerings in history, potentially valued at $1 trillion. Which company goes public first could significantly impact the investment landscape for the entire AI industry.
IPO Preparations Amid Bubble Warnings
This move comes amid warnings from central banks and financial authorities about bubble risks in the AI sector.
The Bank of England warned this week that tech company valuations, particularly AI-focused firms, “remain materially stretched.” The central bank noted that U.S. equity valuations are near dot-com bubble levels, “heightening the risk of a sharp correction.”
Anthropic’s Rapid Growth as Backdrop
The IPO preparations are backed by Anthropic’s impressive growth:
- Subscription Revenue: Nearly 7x growth in 2025 (compared to OpenAI’s 18% growth)
- Annual Revenue: Expected to reach $8-10 billion by end of 2025
- Market Position: Rapidly expanding presence in enterprise AI market
What an IPO Would Change
If Anthropic or OpenAI goes public, several changes are expected:
- New Investment Opportunities: AI investment options expand beyond big tech stocks like Nvidia, Microsoft, and Meta
- Financial Transparency: Revenue growth, profit margins, and R&D costs become public
- AI-Focused ETFs: Could prompt creation of AI-specific indices and ETFs
Anthropic’s IPO could be a historic moment for the AI industry. All eyes are on developments to come.