Anthropic is preparing paperwork for an initial public offering that bankers believe could become one of the largest technology listings in U.S. history, according to people familiar with the plans. A filing could land before the end of August, positioning the AI lab for a debut that some on Wall Street are already comparing to SpaceX's blockbuster entrance onto public markets.
The timing reflects a stunning run of enterprise adoption. Annualized revenue at the company reportedly reached close to $65 billion by late July, fueled largely by businesses paying for access to Claude models and the AI "agents" built on top of them to handle coding, research and back-office work.
An offering of that size would test investor appetite for AI valuations at a moment when rivals are also racing toward public markets or fresh private rounds. It would also hand Anthropic a war chest to compete with OpenAI and Google for computing capacity, talent and enterprise contracts heading into 2027.
Neither Anthropic nor its underwriters have confirmed a date, and the final size and structure of any offering could still change before paperwork is formally filed with regulators.
