Anthropic's initial public offering has slipped to mid-October at the earliest, with the listing now expected to close just before November's U.S. midterm elections. The delay pushes back a deal some investors peg at $2 trillion, one of the largest IPOs ever attempted.
Anthropic now plans to begin marketing its IPO in mid-October, people familiar with the matter said, with the listing set to close in the days before November's midterm elections. The company had been expected to file its IPO prospectus publicly as soon as next week, but that step is now not expected until late September, the people added, cautioning the timing could still change.
The delay pushes back what some investors have called a potential $2 trillion listing, one of the largest IPOs ever attempted and a major test of public-market appetite for the artificial intelligence industry. Still, companies frequently adjust IPO schedules around market conditions and regulatory reviews, so the shift is not unusual.
As part of the process, Anthropic is working to finalize a $15 billion revolving credit facility. Once that is done, analysts at the banks involved in the financing are expected to meet with the company, one person said. Companies typically leave a few weeks between those analyst meetings and the public prospectus, though Anthropic is expected to have a tighter window because analysts already know the business well.
The offering is expected to be one of the most closely watched IPOs ever, as investors look to public markets for exposure to the AI industry. It could arrive alongside other AI listings, including from OpenAI. SpaceX went public in June at a record $1.77 trillion valuation. Morgan Stanley, Goldman Sachs, JPMorgan and Citi are among the banks working with Anthropic on the deal; both the banks and Anthropic declined to comment.
Source: CNBC
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