According to sources close to the matter, Anthropic is postponing its stock market listing for mid-October. Behind this slight discrepancy lies a major test: knowing to what extent Wall Street will agree to value an AI company whose financing needs remain dizzying.
In brief
- Anthropic is reportedly targeting mid-October to market its AI IPO in the United States.
- The public prospectus is now expected at the end of September, according to Reuters.
- A revolving credit line of 15 billion is being prepared before the operation.
- Some investors are talking about $2,000 billion, with no officially fixed valuation.
Why is Anthropic postponing its IPO until October?
Basically, the prospectus intended for the general public was expected this week. Ultimately, it may not be submitted until the end of September. This mechanically postpones the launch of the IPO marketing campaign until mid-October. The quotation could then intervene just before the US mid-term elections from November 2026.
Good to know: the prospectus is of particular importance in this process.
Indeed, this document reveals:
- accounts;
- operational risks;
- the financial needs of the AI business.
Above all, it will give investors a first detailed vision of the real economy of Claude. This is its generative AI assistant.
Another important point: Anthropic has already obtained the necessary green light. The 1er June 2026, the company confidentially transmitted to the SEC (the American stock market regulator) a draft form S-1. This document allows it to launch the operation at any time, subject to market conditions.
An AI IPO supported by $15 billion in credit
Before publishing its file, Anthropic seeks to ffinalize a $15 billion revolving credit line. This reserve would allow it to borrow according to its needs, without immediately raising the entire amount. According to some analysts, this amount would, however, greatly exceed its previous facility. The latter is valued at approximately $2.5 billion.
Morgan Stanley, Goldman Sachs, JPMorgan and Citi would be among the investment banks involved in the IPO. The establishments concerned and Anthropic, however, declined to comment publicly on these preparations.
Moreover, this financing constitutes neither a classic fundraising nor proof of profitability. Rather, it acts as a liquidity net for a company faced with considerable expenses in:
- computing power;
- data centers;
- training AI models.
Accuracy: according to The InformationAnthropic had already raised at least $130 billion in August. The goal was to finance its IT needs.
The group could also allow certain existing shareholders to sell their shares during the operation and consider blocking periods longer than the usual 180 days. Thus, the 15 billion credit facility measures both Anthropic’s ambition and the capital intensity of the AI sector.
An AI valuation at $2,000 billion, market scenario or credible price?
Anthropic’s latest private fundraising propels the AI company valuation at approximately $965 billion. It is therefore ahead of OpenAI, valued at $852 billion. Some historic shareholders are now talking about a target close to $2,000 billion on the stock market, more than double.
This difference in ambition is based on a growth gap already visible in the accounts. Anthropic’s quarterly turnover was in fact more than doubled to $11.6 billion. OpenAI shows an increase of only 18%. This represents approximately $6.7 billion, according to information from the Wall Street Journal.
That’s not all! THE annualized growth rate of the AI company also crossed $65 billion at the end of July 2026, compared to more than $40 billion for OpenAI during the same period. A figure from around 9 billion dollars at the end of 2025!
Business demand confirms this trend. According to Ramp’s AI Index published in August43.5% of American companies purchased Anthropic subscriptions or tokens in July, compared to 39.7% for OpenAI. The mid-October IPO therefore aims to convince the public markets that faster growth and a slight advance among companies justify a premium compared to the last private valuation.
Anthropic, OpenAI and the rest of the AI market: an already global battle
This duel between Anthropic and OpenAI illustrates a broader dynamic: value of AI giants is now essentially created before their IPO.
According to a private market study conducted by Forge, Anthropic, OpenAI and xAI reached a valuation of $100 billion in five years on average, compared to around sixteen years for the previous generation of technology companies. The IPO thus increasingly becomes a way out for existing investors and employees, rather than a real starting point for value creation.
The macroeconomic context remains buoyant for the AI ecosystem. Gartner predicts a 63.4% increase in global spending on AI platforms and models to $64.3 billion in 2026. Goldman Sachs Research estimates that global AI investment will exceed $1 trillion this year, including $581 billion in the United States. For its part, PwC anticipates up to $31.6 trillion in spending on data centers by 2050.
In any case, Anthropic’s IPO goes beyond the simple stock market calendar. It will measure whether public markets agree to finance the AI race at the same price as private investors. See you at the end of September, with the publication of the prospectus, for the first official figures!
Maximize your Tremplin.io experience with our ‘Read to Earn’ program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
