2nd October 2026 – (New York) Anthropic is reportedly planning to launch investor marketing for its stock market debut as soon as the week of 9th November, positioning the AI developer to start trading before Thanksgiving on 26th November. People familiar with the process say the timetable remains fluid, though expectations are that the listing would arrive no later than year‑end. The company has scheduled meetings with prospective investors for 14th October in San Francisco, signalling momentum after earlier indications that a filing could come shortly after the summer.
Investor chatter has centred on a prospective valuation between $1.8 trillion and $2 trillion, which would place the float among the largest on record. The heightened ambition comes despite choppy conditions for new listings this year, with a number of debuts postponed and the weighted‑average return for more than 100 newly listed shares running at a loss of 4 per cent, compared with gains of 12 per cent for the S&P 500 Index and 20 per cent for the Nasdaq 100. Recent high‑profile delays elsewhere underscore the risk that timelines could yet shift if demand cools.
Financial disclosures cited in recent reporting indicate that Anthropic’s 2025 revenue rose roughly twelvefold to about $4.6 billion, while its net loss widened to nearly $42 billion, driven largely by a change in the fair value of liabilities accounting for more than $34 billion of the total; operating losses exceeded $8 billion. Founded in 2021 by former OpenAI staff including chief executive Dario Amodei, Anthropic has built its position around the Claude product line and enterprise‑focused tools such as Claude Code and the coworking assistant Claude Cowork.
The prospective listing would arrive as rivalry with OpenAI intensifies. OpenAI’s annual recurring revenue is reported to be approaching $70 billion after a strong third quarter, and the firm unveiled its latest model, GPT‑6.1 Sol, at its developer event this week. At the same time, both companies face heightened scrutiny over AI safety following incidents involving autonomous agent behaviour, while a separate dispute continues over the US Department of Defense’s designation of Anthropic as a supply‑chain risk. Against that backdrop, market participants say the coming weeks will test whether appetite for AI‑led growth can overcome wider concerns about governance, profitability and the near‑term performance of new issues.
