Anthropic, the artificial intelligence company behind the Claude chatbot, has started formal groundwork for a potential initial public offering. The company has hired long-time adviser Wilson Sonsini Goodrich & Rosati to support early preparations and internal readiness. It has also begun informal talks with major investment banks about a possible listing as early as 2026.
A spokesperson has said the firm has not decided when, or even whether, to go public. This approach allows leadership to test public market conditions while keeping the option to remain private.
Alongside IPO planning, Anthropic is negotiating a new private funding round. The deal could push its valuation above $300 billion, after a recent round that valued the company at about $183 billion. Microsoft and NVIDIA have pledged up to $15 billion in combined commitments as part of a broader strategic partnership.
Management expects annualised revenue to reach around $26 billion next year, driven by more than 300,000 business and enterprise customers. Previous investments from Google and Amazon, along with large cloud and data-center build-outs, aim to support demand for the company’s Claude models. Anthropic plans to spend tens of billions of dollars on computing infrastructure over the coming years.
An IPO would give Anthropic a new way to raise capital for large-scale AI training runs. It could also give the company a stock currency for acquisitions in a sector where model development and hardware needs continue to rise. Investors view access to public markets as one route to fund frontier AI systems that require heavy upfront spending.
Also Read: Anthropic’s Claude Opus 4.5 Launched, Surpasses Gemini 3 Pro in Coding Benchmarks
Any Anthropic IPO would arrive as policymakers and investors argue about a possible bubble in AI-related assets. Central bank officials have warned that valuations for some technology companies look stretched and that abundant liquidity can amplify risk-taking. Market analysts highlight rapid gains in benchmark stock indices and cryptocurrencies as signs of strong risk appetite.
Anthropic’s plans emerge in parallel with those of rival OpenAI, which is also exploring a path to the public markets. Reports suggest OpenAI could seek a valuation of up to $1 trillion in a future listing, although its executives say a flotation does not sit on the near-term agenda.
Stronger public market scrutiny could reshape competition among major AI labs. Investors will track how Anthropic revenue balances rapid growth, heavy infrastructure spending and long-term commitments on safety and governance. The outcome of any eventual listing may influence how capital markets value other high-growth AI companies in the years ahead.