On October 2, IT Home relayed a Bloomberg report from the same day. People familiar with the matter said that, after delaying its earlier plan, Anthropic is seeking to list as early as mid-November. They also said the IPO roadshow could formally start the week of November 9, with an effort to begin trading before Thanksgiving on November 26. Trading usually thins in the days around Thanksgiving.

The company still plans to list by the end of this year at the latest. It had previously prepared to file the IPO publicly after the summer. The report says the specific arrangements are still being discussed, and the listing date can still move. November 9 and November 26 are targets from people familiar with the matter, not dates an exchange has posted.

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A small ochre rectangle on gray paper, with a dark right edge and specks drifting right.
One small ochre block sits on a gray sheet. Its right edge is black, and specks drift into the blank. That is November as a small mark on a timetable, with the rest not yet set. An illustration, not an exchange notice., AI-generated illustration, not a news photograph

The report says Anthropic’s momentum was strong for most of this year. Sales growth at OpenAI and other rivals picked up again in recent months, and competition intensified with it. At the same time, a series of widely watched hacks carried out by out-of-control AI agents has put AI safety under more public scrutiny. Outsiders worry those problems could affect the listing. The retelling does not describe how the hacks were carried out, and this piece does not add that.

CEO Dario Amodei published an essay on his personal site arguing for a slower pace of new models. The main rival, OpenAI, has postponed its IPO plan. CEO Sam Altman thinks now is not the right time to list. We have not checked Amodei’s essay. This is only the report’s summary of it.

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People familiar with the matter said these worries do not seem to have weakened potential investors’ interest. Some investors put a reasonable valuation at about $1.8 trillion to $2 trillion. That is the view of some investors, not a set offer price. The report also says Anthropic expects this IPO to be as large as SpaceX’s, or larger.

Documents Bloomberg saw show about $4.6 billion of revenue for the full year 2025, far above $386 million in 2024, while the operating loss widened to more than $8 billion. The 2025 net loss was close to $42 billion, about five times the roughly $8.3 billion net loss in 2024. The full-year net loss was driven mainly by changes in the fair value of liabilities. That one item produced more than $34 billion of the loss. Net loss and operating loss are not the same measure: more than $34 billion comes from the fair-value change, and the operating loss is more than $8 billion.

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要点

  • People familiar with the matter say the roadshow could start the week of November 9, with a push to list before November 26. The date can still move.
  • Some investors put a reasonable valuation at $1.8 trillion to $2 trillion. That is not a set offer price.
  • Documents show about $4.6 billion of 2025 revenue, an operating loss above $8 billion, and a net loss near $42 billion.
  • More than $34 billion of the net loss comes from changes in the fair value of liabilities.