Elon Musk-backed Anthropic is readying itself for its debut in the public markets in October. The company is now anticipated to begin marketing itself to investors as early as mid-month, sources with knowledge of the situation said Friday. The Anthropic IPO listing might happen just days ahead of the U.S. midterm elections in November. Experts eye a $2 trillion valuation for the AI startup and some even expect it to beat the historic SpaceX IPO debut.
Anthropic Pushes Back IPO Prospectus
The company has revised its estimated filing schedule. It was previously thought its IPO prospectus would be made public as soon as next week. That has been postponed to late September, two sources with knowledge of the timing said.
The prospectus is a significant first step in Anthropic’s journey to going public. There is not a definite time yet. The company may still make changes to the schedule as preparations proceed.
According to some investors, the potential valuation of Anthropic IPO is at approximately $2 trillion, which is the valuation range of IPO. The size would make this offering one of the biggest seen in world equity markets.
The $15 Billion Plan In Focus
Anthropic is also making other efforts to round up a big financing round before it gets further into the IPO process. The company is looking to complete a $15 billion revolving credit facility.
Earlier, Bloomberg News had reported that Anthropic was considering upgrading the facility to $15 billion. The following day, analysts will be invited to meet with the company following the financing.
Those meetings are usually held weeks prior to the prospectus for an IPO being made public. Anthropic could help bridge that divide, though, since analysts at the banks are already well acquainted with the company, one of the people said.
However, Anthropic did not respond to reports of plans, according to Reuters report.
Meanwhile, the banks in the planned offering include Morgan Stanley, Goldman Sachs, JPMorgan and Citi, people familiar with the situation said.
Moreover, the Anthropic IPO comes at a time when major AI companies are contemplating going public. OpenAI is also one of the AI companies which are being connected to a future listing. The market is pricing in odds of OpenAI vs. Anthropic IPO going live first.
Another recent example of what big tech firms can achieve was seen during the recent SpaceX IPO in June. SpaceX, the company that was founded by Elon Musk, went public in June for $1.77 trillion.
The timeline of Anthropic’s remains is still dependent on a number of steps. The final schedule may be subject to change based on regulatory reviews, financing options, and market conditions.
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