Anthropic is reportedly pushing back its planned IPO from October to November 2026. The company originally targeted October, but now the listing is expected in late October at the earliest but more likely November.
Investors expect a valuation of about $2 trillion and a capital raise of up to $100 billion. Both would break the records SpaceX set in its June IPO.
Revenue more than doubled between the first and second quarters of 2026, rising from about $4.7 billion to more than $11.5 billion, according to The Information. Spending on computing infrastructure only rose 65 percent over the same period, from $3.4 billion to $5.6 billion.
"By the end of 2025, about 1,500 companies had each spent more than $100,000 on Anthropic's AI software over the previous 12 months," according to The Information. By the end of the second quarter of 2026, that number had quadrupled to about 6,000.
The IPO would mainly give Anthropic access to debt and equity markets for the years ahead. Despite reporting $120 billion to $130 billion in cash in early August, the company will likely need more funding as data center spending and model training drain its reserves.
Several factors could explain the delay, and the answer is probably a combination of them. Anthropic recently claimed to be profitable, but its figures excluded major costs such as stock-based compensation and didn't follow standard accounting rules.
Source: thedecoder
