Anthropic seeks $150 billion IPO

Anthropic, the artificial intelligence company behind the Claude chatbot, has filed confidential paperwork with the Securities and Exchange Commission to list its shares publicly. The company is targeting a valuation of $150 billion, according to documents reviewed by The Wall Street Journal.

The filing marks a shift in strategy for the San Francisco-based firm. In its previous private funding rounds, investors valued the company at significantly lower figures. By moving to the public markets, Anthropic hopes to raise substantial new capital to fund its ongoing research and infrastructure development.

The company has not yet named lead underwriters for the deal. Sources close to the negotiations said Anthropic is in advanced talks with several major investment banks to manage the offering. The choice of underwriters will determine the timeline for the initial public offering, which could occur in early 2027.

Executives at Anthropic emphasized that the move is about long-term stability rather than immediate profit. "We are well-positioned to serve the needs of the enterprise market," a company spokesperson said in a statement released on Monday. The firm reported that its annual recurring revenue has grown rapidly over the past year, driven by contracts with large technology firms.

However, analysts point out that profitability remains a challenge for many AI startups. Anthropic has not disclosed specific revenue figures in its confidential filing, leaving investors to speculate on its current burn rate. The company relies heavily on its partnership with Amazon, which provides critical computing power and cloud services.

The filing is subject to regulatory review before it becomes public. Once the SEC approves the registration statement, Anthropic will release detailed financial information, including cash flow and debt levels. This transparency will allow the market to assess the company's financial health before its shares begin trading.

The company's competitors, including OpenAI and Microsoft, have also been exploring public listing options. Anthropic's decision to move first in the AI sector could set a price benchmark for other private tech firms seeking to go public in the coming quarters.