Anthropic Eyes Mid-November 2026 IPO At Potential $2 Trillion Valuation Amid Fierce AI Competition And Market Uncertainty

Anthropic PBC is considering launching its initial public offering (IPO) as early as mid-November. The artificial intelligence company behind Claude has reportedly pushed back its earlier plans to go public. The company could begin formally marketing the IPO during the week of 9 November 2026. This would allow its shares to potentially begin trading before Thanksgiving on 26 November 2026.

The timeline is not final and could still change. Anthropic is nevertheless expected to complete its market debut by the end of 2026, according to people familiar with the matter.

Anthropic Targets Trillion-Dollar Valuation

Prospective investors are reportedly considering a valuation of around $1.8 trillion to $2 trillion for Anthropic. The company also expects to match or exceed the size of SpaceX’s IPO. Anthropic's financial performance has grown sharply alongside its AI business. The company recorded revenue of about $4.6 billion in 2025, compared with $386 million a year earlier.

But its net loss widened to nearly $42 billion in 2025 from about $8.3 billion in 2024. More than $34 billion of the loss was linked to changes in the fair value of the company's liabilities.

Competition And IPO Market Add Uncertainty

Anthropic faces renewed competition from OpenAI, which has gained sales momentum in recent months. Anthropic is scheduled to meet prospective investors at its San Francisco headquarters on 14 October 2026. The meeting is expected to form part of preparations for the proposed IPO.

The potential listing comes as several companies have delayed their IPO plans. More than 100 newly listed stocks have recorded a weighted-average loss of 4% this year when SpaceX and SK Hynix are excluded.

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