Anthropic Reportedly Targeting Mid-November IPO at Sky-High Valuation
According to reports from Bloomberg, AI startup Anthropic is aiming to launch its IPO roadshow as early as the week of November 9, with plans to list before Thanksgiving on November 26. Seeking a target valuation of $1.8 trillion to $2 trillion would make it one of the largest public listings ever, testing investor appetite for generative AI startups facing immense cash burn. Anthropic projects 2025 revenue of approximately $4.6 billion—up from $386 million in 2024—alongside a net loss of nearly $42 billion, primarily caused by over $34 billion in fair-value changes on liabilities.
## BACKGROUND
Anthropic is an AI safety and research company founded by former OpenAI executives, best known for developing the Claude model family. While competitors like OpenAI have delayed public listing plans due to market timing and heightened scrutiny over AI agent security risks, Anthropic appears eager to capitalize on investor enthusiasm.