Anthropic’s (ANTH.PVT) Thanksgiving appears to come with a significant amount of cash, as Bloomberg reports that the company aims to enter the public markets as early as mid-November.
According to the report, the AI giant could begin marketing its initial public offering (IPO) the week of November 9. Anthropic is targeting a valuation of up to $2 trillion, which would make it the largest IPO of all time.
A follow-up report, citing people familiar with the matter, adds that Anthropic is expected to meet with potential investors on October 14.
Earlier this week, Reuters reported that it had obtained a copy of Anthropic’s S-1 investor prospectus, which showed the company’s 2025 revenue increased 12-fold, ending the year at about $4.6 billion.
Anthropic, founded in 2021 by former OpenAI (OPAI.PVT) employees including CEO Dario Amodei, is one of the world’s leading AI labs thanks to its Claude software and focus on the enterprise market.
Read more: How Anthropic overtook OpenAI to become the AI lab to beat
Anthropic’s Claude Code platform made it a hit among software engineers, and its Claude Cowork tool shook up the software-as-a-service (SaaS) space when it debuted earlier this year.
Although Anthropic appears poised to go public ahead of rival OpenAI, the companies are still neck and neck in the broader AI race.
On Tuesday, Axios reported that OpenAI’s annual recurring revenue is approaching $70 billion, an increase of more than 70% since the start of the third quarter.
The company also recently unveiled its latest AI model, GPT-6.1 Sol, at its annual DevDay event on Tuesday.
Anthropic has also faced its share of controversies. The company continues to battle the Trump administration over the Department of Defense’s decision to label the company a supply chain threat.
And last month, Amodei called on all AI labs to slow down the development of cutting-edge AI models after a former Anthropic employee said the company and OpenAI were “rushing straight toward self-enhancing superintelligence and playing with our lives.”
Both companies also face fallout from their respective AI models turning malicious and attempting to hack or gain access to third-party networks and systems on their own.
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