Anthropic, the fast-rising artificial intelligence company behind the Claude chatbot, is laying early groundwork for what could become one of the largest initial public offerings in technology history, according to a recent report by the Financial Times. The potential listing, possibly as early as next year, underscores the accelerating competition among leading AI developers to secure capital, scale infrastructure and define market leadership in generative AI.
IPO preparations and legal advisers
The FT reported that Anthropic has engaged the Silicon Valley law firm Wilson Sonsini Goodrich & Rosati, a longtime adviser to major technology listings including Google, LinkedIn and Lyft. The firm has reportedly advised Anthropic for several years, signaling that internal IPO-readiness work had already been underway before public speculation intensified.
Sources cited in the report said Anthropic has also held informal discussions with major investment banks about a potential offering. However, these talks were described as preliminary, and no formal timing has been set.
Responding to the report, an Anthropic spokesperson said: “It’s fairly standard practice for companies operating at our scale and revenue level to effectively operate as if they are publicly traded companies,” adding that no final decisions have been made on whether or when to go public.
Sky-high valuations and strategic backing
Alongside IPO discussions, Anthropic is also exploring a fresh private funding round that could value the company above $300 billion, according to the FT. The report cited a combined $15 billion commitment from Microsoft and Nvidia as part of this private financing effort.
Separate reporting from CNBC last month estimated Anthropic’s valuation in a similar range, between $300 billion and $350 billion, after recent multi-billion-dollar investments by the same strategic partners. Such figures place Anthropic among the most valuable private technology firms globally.
The company’s leadership team has also been strengthened for public-market preparation. It recently hired Krishna Rao, a former Airbnb executive who played a key role in Airbnb’s 2020 IPO.
Infrastructure expansion and market competition
Anthropic has been expanding aggressively to support its rapid growth. The company recently announced plans for a $50 billion AI infrastructure build-out, including new data centers in Texas and New York, and has tripled its international workforce. These investments reflect the enormous capital demands of large-scale AI model development.
If Anthropic proceeds with a public listing, it would place the company in a direct race with OpenAI, which is also widely rumored to be exploring IPO options. However, OpenAI’s chief financial officer recently said the company is not pursuing a near-term listing, even after completing a $6.6 billion share sale at a reported $500 billion valuation in October.
Testing investor appetite
A public market debut by Anthropic would test investor appetite for high-burn, loss-making AI companies at a time when valuations are surging and concerns about an AI market bubble persist. Still, the FT reported that backers view a potential Anthropic IPO as an opportunity for the company to “seize the initiative” in its rivalry with OpenAI.
As generative AI reshapes industries and capital markets alike, Anthropic’s next move could become a defining signal for the sector’s transition from private-equity fueled growth to full public-market scrutiny.
