Anthropic Delays IPO to November After Prospectus Leak
Anthropic shifted its initial public offering to November following a prospectus leak that revealed a $2 trillion valuation and significant net losses.
Anthropic postponed its initial public offering from October to November after the leak of its confidential prospectus. The artificial intelligence company is seeking a valuation of $2 trillion, which would place it above SpaceX's $1.8 trillion valuation.
Leaked financial documents show the company experienced rapid growth, with 2025 revenue reaching $4.6 billion, a 12-fold increase over 2024. However, this growth coincided with a net loss of $42 billion for 2025. To sustain its operations, the company plans to invest more than $500 billion in computing infrastructure over the coming years.
The prospectus identifies several primary risks, including a heavy revenue dependence on two main customers. It also highlights the existential threat of recursive self-improvement, a process where AI independently creates superior versions of itself. CEO Dario Amodei warned that if this process is left unchecked, it could outrun the ability of humans to understand and control these systems.
