Anthropic Reportedly Plans to Publicly File for IPO After Labor Day

Artificial intelligence startup Anthropic is planning to make its initial public offering prospectus public after Labor Day, setting the stage for a potential market debut in late September or early October, The Information reported Thursday, citing people familiar with the matter.

This development follows a confidential IPO filing by the company earlier this year, positioning it in a race with rival OpenAI to access public capital amid strong investor appetite for generative AI companies.

Potential Offering Structure

According to The Information's report, Anthropic is considering several notable features for its public offering that would distinguish it from other recent major tech listings.

• Secondary Sales: The company is reportedly considering allowing existing shareholders to sell stock as part of the IPO. This would differ from the recent IPOs of SpaceX and Cerebras, which did not include sales from existing stockholders, the report noted.
• Lockup Periods: Anthropic is also weighing post-IPO lockup periods longer than the customary 180 days for insiders.
• Employee Sales: The company has considered requiring employees to sell shares through preset 10b5-1 trading plans, a more structured approach than typical post-earnings selling windows.

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Market Context and Scale

The potential IPO is expected to be one of the largest in the technology sector. The Information reported that Anthropic's offering is expected to surpass the $86 billion raised by SpaceX in its June IPO. It was not clear what portion of the offering would consist of newly issued shares versus those sold by existing holders.

Anthropic has already raised substantial private capital to fund its significant computational resource requirements. The report states the company has secured at least $130 billion in funding to date. Anthropic did not immediately respond to a request for comment from Reuters on the matter.