Anthropic (ANTH.PVT) is expected to publicly file its S-1 investor prospectus as early as Friday, according to three people familiar with the artificial intelligence company’s plans. The move would mark a crucial next step for what could be the largest IPO in history.
The highly anticipated IPO, expected to surpass SpaceX’s (SPCX) IPO in June, is widely seen as a crucial test of investor appetite for the artificial intelligence boom, as investors grow increasingly concerned about the industry’s massive spending spree.
Anthropic in complete confidentiality submitted a draft IPO registration statement to the Securities and Exchange Commission (SEC) in June. Under SEC rules, companies using the confidential process must make their registration documents available 15 calendar days before the start of their official investor tour.
Anthropic did not respond to a request for comment on the timing of its S-1.
A public filing would remove a key procedural hurdle toward a possible November listing, although the timing of the offering remains subject to market conditions and other factors. Importantly, it would also give regular investors a first look at the financial details and risks associated with one of the fastest growing companies in the AI sector.
Anthropic is spending billions on AI infrastructure to train and run its Claude suite of models. This includes collaboration with Google (GOOG, GOOGLE) and Amazon (AMZN), as well as leasing graphics processing unit (GPU) capacity from SpaceX’s Colossus 1 data center.
The company had revenue of $16.3 billion in the first six months of 2026 and reported a net loss of more than $80 billion, according to a report published Tuesday by The Wall Street Journal. Wall Street expects the company could raise as much as $100 billion at a valuation of $2 trillion, Reuters previously reported.
Last week, Anthropic told investors in its San Francisco office that its revenue jumped to $16.8 billion in the third quarter from $11.5 billion in the second quarter, according to the Financial Timesnoting that the company is also profitable on an adjusted basis.
The colossal offering comes as this year’s banner IPO market becomes increasingly difficult. Earlier this week, shares of South Korean data center provider Elice fell 32% in its first day of trading after raising $151 million. Nvidia-backed Firmus Grid abruptly abandoned its IPO plans earlier this month after investors were reluctant to accept the proposed valuation, while several other companies postponed their IPO plans, citing market conditions.
Gn bussni
