PiCK

Anthropic Delays IPO to November, Targets $2 Trillion Valuation

Source

Doohyun Hwang

Summary

Anthropic has delayed its IPO to November from October and plans to step up its pitch to investors after releasing third-quarter results.
Anthropic said annualized revenue topped $65 billion, with annualized revenue potentially rising to $100 billion to $120 billion by the end of this year.
Markets are watching whether Anthropic can pursue a valuation of as much as $2 trillion, while debate over AI safety risks remains a key variable.

Forecast Trend Report by Period

Delayed by about a month from the original October plan

Investor push to follow third-quarter earnings release

Annualized revenue tops $65 billion

Mega-listing faces test amid AI safety debate

Anthropic, the developer of generative artificial intelligence model Claude, is delaying its initial public offering to November. The move appears aimed at pitching investors after the company releases its fast-growing third-quarter results. Markets are closely watching whether Anthropic can secure a valuation of as much as $2 trillion.

The Wall Street Journal reported on September 18, citing multiple sources, that Anthropic has moved its IPO timetable to November from an earlier target of October. Some of the company’s advisers see an advantage in pushing the listing back to November because it would allow Anthropic to present third-quarter results to investors.

The company believes the earnings report could show it is still delivering strong growth even after rival OpenAI unveiled its new AI model, Astra, this month. The IPO timetable could still change again depending on market conditions and investor demand.

Anthropic’s revenue has been rising rapidly. Its annualized revenue topped $65 billion as of late July. That was more than seven times the roughly $9 billion recorded at the end of last year. Preliminary second-quarter revenue also exceeded $11.5 billion, more than 14 times the $787 million posted a year earlier. Annualized revenue could climb to $100 billion to $120 billion by the end of this year.

Expectations for the company’s valuation have also risen alongside that rapid top-line growth. Anthropic was valued at $965 billion in a fundraising round in May. Ahead of the IPO, market estimates have floated a valuation of as much as $2 trillion. Some investors are using projected annualized revenue of more than $100 billion this year to justify that figure.

Still, debate over the pace of AI development remains a variable ahead of the IPO. Anthropic Chief Executive Officer Dario Amodei said recently that advanced AI could pose safety risks. He added that the industry needs to take a more cautious approach to both the pace of technological development and the safeguards surrounding it.

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