According to the latest reports from The Economic Times, Anthropic has confirmed its IPO roadshow will begin in mid-October, with the company's public prospectus now expected in late September 2026. The artificial intelligence company had been expected to make its IPO prospectus public as early as next week, but this timeline has been pushed back. The revised schedule pushes back what some investors have said could be a $2 trillion listing, potentially making it one of the largest IPOs ever attempted. As per The Economic Times, the company is expected to begin marketing its initial public offering in mid-October and complete the listing days before the US midterm elections in November. The Economic Times reports that the shift pushes back what some investors have said could be a $2 trillion listing, which would be one of the largest IPOs ever attempted and a major test of public-market appetite for the rapidly growing artificial intelligence industry. Companies frequently adjust their IPO schedules as they work through market conditions, regulatory reviews and other preparations, so such changes are not unusual. According to Bloomberg, the traditional push to the end of the year for initial public offerings is now on, with most IPO candidates heads down focused on getting the numbers in order and looking at marketplace conditions.
According to the latest reports, Anthropic's annualized revenue run-rate reached approximately $65 billion as of July, representing a dramatic surge from around $9 to $10 billion at the end of 2025. This represents a 6-fold increase year-over-year and significantly strengthens the company's position ahead of its public debut. The company is on track to post its first expected quarterly operating profit of approximately $559 million in Q2 2026. The company completed a $65 billion Series H funding round that pushed its post-money valuation to $965 billion, bringing its total private capital raised to over $130 billion. The confidential filing gives Anthropic flexibility on timing, allowing the company to test SEC feedback before going public with its financials. If market conditions deteriorate between now and the fall, the company could delay the offering. Looking ahead, two people familiar with Anthropic's financials portfolio told Reuters that the company is forecasting revenue of about $190 billion to $200 billion in 2028, compared with the $47 billion revenue run rate the company disclosed in May.
According to Bloomberg reports, Anthropic has secured multiple major deals for computing infrastructure to support its explosive growth trajectory. The company has announced several major deals for data center space and compute capacity to meet the exploding demand for its AI services. As of the May announcement, it had secured a deal with Amazon for 5 gigawatts of computing power, as well as an agreement with Alphabet's Google and Broadcom for another 5 gigawatts of Tensor Processing Unit (TPU) capacity. Broadcom and Google are design partners on the TPU. Anthropic also has a deal with SpaceX for graphics processing unit (GPU) capacity, and it recently signed two deals with Nvidia-backed cloud providers. Its deal with Nscale is worth $45 billion for 460 megawatts of compute capacity, and its Lambda deal is worth $35 billion. The company is angling to present its total addressable market as $30 trillion, positioning itself to meet this massive demand through its extensive infrastructure partnerships. Reuters reports that Anthropic is also proposing to lease up to $10 billion of computing capacity from Meta Platforms over two years, tied to Meta's Prometheus data center in Ohio for its Claude models.
As reported by The Economic Times, the IPO structure may include secondary sales from existing shareholders, giving early investors and employees a chance to cash out some of their holdings. Lockup periods could extend beyond the typical 180 days. The company is seeking to finalize a $15 billion revolving credit facility as part of the IPO preparations. According to The Economic Times, as part of the IPO process, Anthropic is looking to finalize a $15 billion revolving credit facility, after which analysts, including those at banks involved in the financing, are expected to meet with the company. Reuters confirms that Anthropic is working to finalize a $15 billion revolving credit facility, after which analysts, including those at the banks financing the deal, are expected to hold briefings with the company. Bloomberg News had earlier reported that Anthropic was in talks to expand the facility to that size. Companies typically leave several weeks between analyst meetings and publishing an IPO prospectus, but Anthropic could operate on a tighter timetable as analysts involved in the process are already familiar with the company. Morgan Stanley, Goldman Sachs, JPMorgan, and Citi are among the banks working with Anthropic on the IPO, according to people familiar with the matter, with the banks declining to comment.
According to The Times of India, Anthropic's IPO preparations come after a major improvement in its relationship with the Trump administration. The company had faced months of friction with the administration over AI safety protocols and national defence boundaries. Commerce Secretary Howard Lutnick confirmed this week that the administration now trusts Anthropic, with Lutnick telling Axios that "We trust Anthropic. They've done what we asked. They're back on the right side. So the answer is: Yes."** Asked about confidence in Anthropic CEO Dario Amodei, Lutnick said "We trust Anthropic." The comments mark a major reversal from earlier this year, when tensions resulted in sweeping export restrictions targeting Anthropic's most capable foundation models. Personal friction between senior officials and corporate leaders had also added to the clashes and pushed Anthropic away from executive favour. Anthropic's potential public debut will therefore come as the company prepares for a major transition in the markets, with investors looking at its long-term revenue expectations, while its relationship with the US administration has also moved from months of conflict towards closer ties.
