Exclusive: Anthropic IPO launch shifts toward mid-October, sources say

Anthropic is pushing its potential stock-market debut toward mid-October at the earliest, according to people familiar with the matter, delaying a prospectus that had been expected as soon as next week.

The prospectus is now expected in late September, two of the people said. The timetable, including the planned listing date, could still change. The company is expected to complete the offering days before the U.S. midterm elections in November.

The shift delays what some investors have suggested could become a $2 trillion listing, potentially one of the largest initial public offerings ever attempted. The offering is drawing close attention as investors seek public-market exposure to the fast-growing artificial intelligence industry.

Anthropic is also working to finalize a $15 billion revolving credit facility. Analysts, including those at banks involved in the financing, are expected to meet with the company afterward. Companies typically leave several weeks between analyst meetings and publication of an IPO prospectus, but Anthropic could have a shorter gap because analysts already know the company well.

Anthropic declined to comment. Morgan Stanley, Goldman Sachs, JPMorgan and Citi are among the banks working on the IPO, according to people familiar with the matter, while the banks also declined to comment. The listing could coincide with potential offerings from other AI companies, including OpenAI. SpaceX, led by Elon Musk, went public in June at a record $1.77 trillion valuation.