Anthropic is preparing for a significant initial public offering (IPO) that could impact the broader stock market. The company aims to complete its IPO before Thanksgiving to avoid the typical dealmaking freeze that follows the holiday. While there is a chance the debut could extend into early December, indicators suggest a mid-November launch.
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Recent discussions have raised the possibility that Anthropic's IPO might not achieve the previously anticipated valuation of around $2 trillion, largely due to recent market volatility and valuation concerns in the artificial intelligence (AI) sector. Current expectations put the company's debut valuation between $1.2 trillion and $1.5 trillion.
According to a leaked draft of Anthropic's IPO prospectus, the company reported approximately $16.3 billion in sales during the first half of this year, a significant increase from $1.1 billion during the same period last year. This reflects the growing demand for its Claude AI software suite, which provides advanced tools for coding and content generation. However, Anthropic also reported a loss of about $80.7 billion in the first half of 2026.
In the third quarter, early reports indicated a sequential sales increase of 45%, bringing revenues to $16.8 billion. While this growth is notable, some analysts had expected even stronger performance given the momentum from the first half of the year.