Anthropic’s IPO marketing is now aimed at mid-October, sources say
Anthropic is expected to begin marketing its initial public offering in mid-October at the earliest and complete the listing days before the U.S. midterm elections in November, people familiar with the matter told Channel News Asia, carrying a Reuters exclusive.
A prospectus is the formal document that tells public investors what they are buying. Two of the people said Anthropic had been expected to make that paper public as early as next week.
It is now not expected until late September. Plans, including the timing, remain subject to change.
That slip is the news. The float is still pointed at a window squeezed against Election Day, with marketing starting later and the prospectus following after the delayed paper drops.
Some investors have said the listing could be a roughly $2 trillion valuation, one of the largest IPOs ever attempted and a test of public-market appetite for AI. That figure is investor chatter, not a company confirmation. Anthropic declined to comment.
As part of the IPO process, Anthropic is looking to finalize a $15 billion revolving credit facility, a pre-arranged line of bank money the company can draw as needed. After that, analysts at banks in the financing are expected to meet the company, one of the people said. Bloomberg earlier reported talks to expand the facility to $15 billion.
Companies typically leave a few weeks between those analyst meetings and publishing the prospectus. One person said Anthropic is expected to run a tighter window because analysts already know the company well.
Morgan Stanley, Goldman Sachs, JPMorgan, and Citi are among the banks working on the IPO, according to people familiar. The banks declined to comment, CNA reports.
The offering could come alongside potential listings from other AI companies, including OpenAI. SpaceX went public in June at a record $1.77 trillion valuation.
IPO calendars move. The midterm date does not. The question is whether public money wants AI at that size before voters go to the polls.