Anthropic Is Racing to Price Its IPO Before the Thanksgiving Dealmaking Freeze | The Motley Fool
Anthropic is preparing for what could be one of the largest initial public offerings (IPOs) ever, potentially shaking up the stock market. Investors may not have to wait long for this anticipated public entry, as the company is reportedly targeting a launch before Thanksgiving. This timing is strategic, allowing it to avoid the typical slowdown in dealmaking that occurs around the holiday. Although there is a chance that the IPO could extend into early December, a period that is also favorable for public offerings, indications suggest a mid-November debut is likely.
There has been speculation about whether Anthropic will surpass Space Exploration Technologies' (SpaceX) IPO, which took place in June and was priced at $135 per share, valuing the company at $1.77 trillion, making it the largest IPO to date. Initially, expectations for Anthropic's stock pricing were high, with hopes that it could reach a valuation of approximately $2 trillion, potentially setting a new record. However, recent fluctuations in the broader market and concerns regarding valuations within the artificial intelligence (AI) sector have led many analysts to predict a more conservative valuation of around $1.5 trillion at the time of its IPO. Some estimates even suggest that the company could debut with a valuation as low as $1.2 trillion.
A leaked draft of Anthropic's IPO prospectus reveals that the company generated approximately $16.3 billion in revenue during the first half of this year, a significant increase from about $1.1 billion during the same period last year. This remarkable growth is largely driven by the high demand for Anthropic's Claude AI software suite, which provides advanced tools for coding, analysis, and various content generation tasks. However, the company also reported a substantial loss of around $80.7 billion in the first half of 2026.
Investors are taking a cautious stance regarding Anthropic's third-quarter performance, which indicated a 45% increase in sales from the previous quarter, reaching $16.8 billion. While this growth rate is impressive, some analysts had anticipated an even stronger performance, considering the momentum the company experienced in the first half of the year.
Even if Anthropic does not surpass SpaceX in terms of the size of its IPO, there remains a strong likelihood of a successful public offering next month. The company is currently utilizing significant cash resources as it invests heavily in computing capabilities and scales its operations. Going public will provide Anthropic with a much-needed influx of capital, which is essential for sustaining its rapid growth in the competitive AI landscape.