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Anthropic confidentially filed its draft S-1 with the Securities and Exchange Commission on June 1, the company said in a statement at the time. Reports from IFR indicate the artificial intelligence developer intends to make its registration public around October 26, launch its investor roadshow the week of November 9 and price shares in the middle of the month. The timetable would enable trading to commence before the Thanksgiving holiday on November 26, multiple outlets including Bloomberg have reported. The San Francisco-based firm presented its latest financial performance to investors on October 14, according to Bloomberg. Third-quarter revenue climbed to 16.8 billion dollars, a 46 percent increase from 11.5 billion dollars in the preceding quarter, the presentation showed. The company reported adjusted profitability for a second straight quarter along with positive free cash flow, a Motley Fool analysis of the disclosed figures found.
Anthropic’s full-year 2025 revenue stood at 4.6 billion dollars with a net loss of 42 billion dollars, much of it tied to non-cash accounting charges related to fundraising, a draft prospectus reviewed by Reuters indicated. Nine-month revenue this year has already reached approximately 33 billion dollars, the investor materials demonstrated. Such growth has fueled discussions of a public market valuation between 1.5 trillion dollars and 2 trillion dollars, Reuters and The Motley Fool have reported.
Some prospective investors who attended the October 14 session argued for a 1.5 trillion dollar valuation, down from earlier talk of two trillion dollars, according to accounts in Inside and Yahoo Finance. That range would still eclipse most previous listings and position Anthropic as one of the largest companies to debut on the stock market. Goldman Sachs and Morgan Stanley are leading the offering, with the company having selected Nasdaq for its listing, CNBC confirmed earlier this year.
The BBC reported that Anthropic emphasised safety at its investor event after warnings by current and former researchers of serious risks posed by AI. OpenAI, a key rival in the generative artificial intelligence sector, has opted to delay its own public listing until 2027, The Motley Fool reported. Anthropic’s acceleration comes after it achieved a 965 billion dollar post-money valuation in its Series H funding round completed in May with a 65 billion dollar raise.
Amazon, Google and other major technology players have invested heavily in the company, which developed the Claude family of AI models. The IPO process requires the public S-1 to be available at least 15 days before the roadshow begins, regulatory guidelines show. With the targeted November 9 start, a filing this week becomes critical to maintaining the schedule, industry analysts have noted. Anthropic has not commented publicly on the specific timing or valuation expectations.
