Anthropic Said to Postpone IPO to Just Before Midterms

Anthropic is reportedly pushing back its initial public offering (IPO) to late October. The artificial intelligence company had been expected to release its IPO prospectus as soon as this week, Reuters reported Friday (Sept. 4), citing sources familiar with the matter. That move, a critical step that would set off the closing stages of the listing, is now not expected until late September, the sources said. Anthropic is expected to start marketing the IPO in mid-October at the earliest, completing the listing days ahead of the U.S. midterm elections, the sources told Reuters. Companies often alter their IPO calendars as they deal with market conditions and regulatory oversight, so this change is not unusual. This shift delays what some investors have claimed could be one of the largest IPOs ever attempted at $2 trillion, and a key test of the market’s appetite for AI. Anthropic hopes to finalize a $15 billion revolving credit facility as part of its IPO process. The company from there will meet with analysts, including those from banks taking part in the financing. While companies usually wait a few weeks to make their IPO prospectus public after analysts meetings, this source said Anthropic is expected to have a shorter window as analysts are already well familiar with the startup. The company’s IPO could come alongside other potential AI listings, including that of OpenAI. SpaceX, which listed earlier this year at a $1.77 trillion valuation.