Anthropic Races Toward IPO, Potentially Listing as Early as October and Beating OpenAI to the Capital Markets

One of the largest IPOs in the AI industry is rapidly approaching.

On July 15, Bloomberg cited insiders stating that Anthropic is advancing its Initial Public Offering (IPO) plans, with underwriting banks beginning to arrange meetings between company management and potential investors, aiming for a listing as early as October this year.

The company plans to hold multiple IPO Investor Conferences intensively over the next few weeks. If progress goes smoothly, Anthropic will be the first among its major competitors, such as OpenAI, to enter the Capital Markets. Bloomberg previously reported that OpenAI has delayed its IPO timeline to 2027, further postponed from the previously planned autumn of 2026. Both companies have secretly submitted their listing applications.

This IPO preparation comes as Anthropic's valuation rises rapidly. In May this year, after completing a new round of financing, the company's valuation rose to $965 billion, surpassing OpenAI for the first time and becoming one of the highest-valued private technology companies globally. However, the report cited insiders indicating that relevant arrangements are still under discussion, and the listing timing and issuance details remain subject to adjustment.

AI Competition Enters the Capital Markets Stage

As competition in generative AI continues to escalate, the Capital Markets may see a new wave of listings by AI companies.

Citing insiders, the report stated that Anthropic has selected Morgan Stanley, Goldman Sachs, and JPMorgan Chase as the lead underwriters for this IPO and is currently advancing pre-listing investor communications to prepare for the official launch of the offering.

In addition to Anthropic, DeepSeek is also advancing its IPO plans. Bloomberg previously reported that the company is expected to submit its listing application within this year. As industry competition intensifies, the capital operations of leading AI companies are also entering an acceleration phase.

High Growth Supports Listing Expectations

Anthropic's ability to rapidly advance its IPO is closely related to its recent business growth.

In recent years, the company has continued to expand its enterprise customer base through its Claude series of models, with AI tools targeting scenarios such as software development and code generation becoming a key engine for revenue growth. This has driven the company's revenue to maintain high-speed growth and has also served as important support for the continuous rise in valuation.

At the same time, as the commercialization of generative AI deepens, the Capital Markets' attention to large model companies with scalable revenue capabilities continues to increase, providing Anthropic with a favorable market window for its listing choice.

Policy Remains a Key Variable

However, beyond high-speed growth, the policy environment remains a significant risk factor of concern to investors.

Previously, the Trump administration briefly restricted access to two of Anthropic's core models in overseas markets. Additionally, Anthropic filed a lawsuit regarding the U.S. Department of Defense's inclusion of the company on a list of supply chain risk enterprises, indicating that certain frictions still exist between the company and government departments.

As the IPO approaches, the regulatory environment, geopolitics, and changes in AI industry policies will remain important variables affecting Anthropic's listing pace and market pricing.