Anthropic Could Launch New AI Model Before Possible $2 Trillion IPO in November

TLDR

• Anthropic is considering releasing a new AI model as OpenAI gains more enterprise users.
• The company could pursue an IPO in November, with a possible valuation near $2 trillion.
• Anthropic’s annualized revenue run rate exceeded $65 billion by the end of July.
• OpenAI’s GPT-6 Astra has gained ground in enterprise AI spending and developer usage.
• Anthropic is weighing faster product releases while CEO Dario Amodei continues to call for slower AI capability growth.

Anthropic is considering releasing a new artificial intelligence model as competition with OpenAI increases and the company prepares for a possible initial public offering.

BREAKING: Anthropic is planning to launch its IPO in November despite AI safety concerns, per WSJ.

The company is expected to IPO at a $2 trillion valuation and raise up to $100 billion in the offering.

Anthropic is expected to reach more than $110 billion in annualized revenue…

— The Kobeissi Letter (@KobeissiLetter) September 18, 2026

Reuters reported that Anthropic is reviewing the timing of a new model following the launch of OpenAI’s GPT-6 Astra on September 3.

The decision comes as Anthropic prepares for a possible public listing. Separate reporting said the company could target November for an IPO.

Terms being discussed could value Anthropic at about $2 trillion and raise as much as $100 billion. Those figures have not been finalized.

OpenAI Gains Ground With GPT-6 Astra

OpenAI’s GPT-6 Astra has gained traction among business users since its launch.

Take the Leap, @Anthropic

There’s been a lot of debate about whether now is the right moment for Anthropic to complete its IPO. Markets are jittery, the calendar is crowded, the valuation conversation is loud. And most importantly, there are valid, serious concerns about the…

— Jeremy Allaire (@jerallaire) September 18, 2026

Data from corporate expense platform Ramp showed Astra accounted for about 13% of enterprise AI spending it tracked. Anthropic’s Claude Fable accounted for around 8%.

OpenAI also moved ahead of Anthropic on OpenRouter last week. Users of the developer platform spent more on OpenAI models than Anthropic models for the first time in more than two and a half years.

Anthropic still has a larger reported annualized revenue run rate.

Its annualized revenue exceeded $65 billion by the end of July, Reuters reported, compared with about $9 billion at the end of 2025.

OpenAI’s annualized revenue run rate passed $40 billion in July.

Anthropic has reportedly projected revenue of roughly $190 billion to $200 billion in 2028. Investors cited in separate reporting expect its annualized revenue rate could exceed $110 billion by the end of 2026.

Anthropic Weighs IPO and New Model Release

Anthropic is evaluating the safety of its next model while deciding when to release it, according to Reuters.

That decision follows CEO Dario Amodei’s September 12 call for AI developers to slow the pace at which model capabilities improve.

Anthropic must also balance spending on new models with efforts to improve profitability as computing costs remain high.

The company could move its IPO until after the U.S. midterm elections in November. Reuters reported that the election itself is not expected to have a major effect on the offering.

No public registration statement has yet confirmed the exchange, ticker, underwriting banks or number of shares for an Anthropic IPO.

Meta Platforms is also reportedly seeking to reduce its use of Anthropic models as it develops more AI capabilities internally.

Open-source and open-weight models provide another source of competition by allowing companies to run more AI workloads without relying on major commercial providers.

For now, Anthropic is weighing a new model launch while preparing for a possible November IPO. The company has not confirmed a final launch date, IPO valuation or offering size.