In a major development for the artificial intelligence sector, Anthropic, the creator of the popular Claude AI chatbot, has initiated early preparations for a potential initial public offering (IPO) that could materialise as soon as 2026. This move signals the company's ambition to leverage public markets for its next phase of growth.
Early Steps Towards a Public Listing
According to a report in the Financial Times on Tuesday, December 3, 2025, the AI startup has engaged the prominent law firm Wilson Sonsini to lay the groundwork for the public offering. The company, which counts tech giants Alphabet's Google and Amazon.com as key backers, has a history of working with this legal firm on various corporate matters.
The report indicates that while 2026 is a tentative timeline, discussions with major investment banks have already begun. However, these talks are described as being in early and informal stages, meaning Anthropic is still some distance from formally selecting underwriters for the share sale. An official spokesperson for Anthropic told Reuters that the company has not made a final decision on when or even if it will go public.
Sky-High Valuations and Rapid Growth
The potential IPO comes at a time of explosive growth and staggering valuations in the AI industry. Anthropic is currently negotiating a private funding round that could value the company at over $300 billion. This is a significant jump from its recent valuation of $183 billion.
Under the leadership of CEO Dario Amodei, the company has demonstrated remarkable financial momentum. It is projecting to more than double, and potentially nearly triple, its annualised revenue run rate to approximately $26 billion next year. Its customer base has also expanded robustly, now serving more than 300,000 business and enterprise clients.
A successful IPO would provide Anthropic with a more efficient mechanism to raise substantial capital. This financial muscle would empower the firm to pursue larger acquisitions using its publicly traded stock and accelerate its competitive stance in the fast-evolving AI landscape.
The Broader AI Funding Race
Anthropic's plans unfold against a backdrop of intense competition and massive investments in AI. Its chief rival, Microsoft-backed OpenAI, is also preparing for what could be one of the largest IPOs in history, with a potential valuation soaring up to $1 trillion. Reuters has reported that OpenAI may file with regulators in the second half of 2026, though its CFO, Sarah Friar, stated in November that a listing is not in the startup's immediate plans.
Furthermore, the capital influx into Anthropic continues unabated. Just last month, Microsoft and Nvidia unveiled plans to invest up to $15 billion in the startup. This deal is part of a broader $30 billion commitment by Anthropic to utilise Microsoft's cloud computing services.
Founded in 2021 by former OpenAI research executives, Anthropic's journey from a research-focused startup to a potential public behemoth underscores the transformative and capital-intensive nature of the global AI race. The sector's growth is being fuelled by increased enterprise technology spending and a voracious appetite from investors seeking a stake in the next generation of tech leaders.
