AI: Anthropic Now Targets Mid-October for Its IPO

According to sources close to the matter, Anthropic is postponing its stock market listing to mid-October. Behind this slight delay is a major test: to know how far Wall Street will be willing to value an AI company whose financing needs remain staggering.

Why is Anthropic postponing its IPO to October?

Originally, the prospectus intended for the general public was expected this week. Ultimately, it may only be filed at the end of September. This mechanically delays the launch of the IPO marketing campaign to mid-October. The listing could then take place just before the November 2026 U.S. midterm elections.

Good to know: the prospectus holds particular importance in this process.

Indeed, this document reveals:

• the accounts;
• operational risks;
• the financial needs of the AI company.

Most importantly, it will give investors a first detailed view of Claude’s real economy. This is its generative AI assistant.

Another important point: Anthropic has already obtained the necessary green light. On June 1, 2026, the company confidentially submitted a draft S-1 form to the SEC (the U.S. securities regulator). This document allows it to launch the operation at any time, subject to market conditions.

An AI IPO backed by $15 billion in credit

Before publishing its file, Anthropic is looking to finalize a $15 billion revolving credit line. This reserve would allow it to borrow as needed, without immediately raising the full amount. According to some analysts, this amount would far exceed its previous facility, which was estimated at about $2.5 billion.

Morgan Stanley, Goldman Sachs, JPMorgan, and Citi would be among the investment banks involved in the IPO. The institutions concerned and Anthropic have, however, declined to publicly comment on these preparations.

Moreover, this financing is neither a classic fundraising nor proof of profitability. It acts more like a liquidity safety net for a company facing considerable expenses in:

• computing power;
• data centers;
• training AI models.

Note: according to The Information, Anthropic had already raised at least $130 billion in August. The aim was to finance its IT needs.

The group could also allow some existing shareholders to sell their shares during the operation and consider lock-up periods longer than the usual 180 days. Thus, the $15 billion credit facility measures both Anthropic’s ambition and the capital intensity of the AI sector.

An AI valuation at $2 trillion, market scenario or credible price?

Anthropic’s latest private fundraising drives the AI company’s valuation to around $965 billion. It therefore overtakes OpenAI, valued at $852 billion. Some historic shareholders now mention a target close to $2 trillion on the stock market, more than double.

This difference in ambition is based on a growth gap already visible in the accounts. Anthropic’s quarterly revenue has indeed more than doubled to reach $11.6 billion. OpenAI, on the other hand, shows a progress of only 18%. This represents about $6.7 billion, according to information from the Wall Street Journal.

That’s not all! The company’s annualized growth rate also surpassed $65 billion by the end of July 2026, compared to over $40 billion for OpenAI at the same time. A figure that started from about $9 billion at the end of 2025!

Corporate demand confirms this trend. According to Ramp’s AI Index published in August, 43.5% of U.S. companies bought Anthropic subscriptions or tokens in July, compared to 39.7% for OpenAI. The mid-October IPO therefore aims to convince public markets that faster growth and a slight lead with companies justify a premium over the last private valuation.

Anthropic, OpenAI, and the rest of the AI market: an already global battle

This duel between Anthropic and OpenAI illustrates a broader dynamic: the value of AI giants is now essentially created before their stock market debut.

According to a private market study conducted by Forge, Anthropic, OpenAI, and xAI have reached an average valuation of $100 billion in five years, compared to about sixteen years for the previous generation of tech companies. Going public is thus increasingly becoming an exit door for historic investors and employees, rather than a true starting point for value creation.

The macroeconomic context remains supportive for the AI ecosystem. Gartner forecasts a 63.4% increase in global spending on AI platforms and models, reaching $64.3 billion in 2026. Goldman Sachs Research estimates that global AI investment will exceed $1 trillion this year, including $581 billion in the United States. PwC anticipates up to $31.6 trillion in data center spending by 2050.

In any case, Anthropic’s IPO goes beyond just the stock market schedule. It will measure whether public markets accept financing the AI race at the same price as private investors. See you at the end of September, with the publication of the prospectus, for the first official numbers!