Anthropic Plans November IPO as OpenAI Delays Public Debut
Anthropic is preparing for a mid-November initial public offering while OpenAI postpones its IPO to 2027 to seek $30 billion in private funding.
Two leading artificial intelligence laboratories have diverged in their financial strategies, with Anthropic preparing for an initial public offering while OpenAI retreats from the public market.
Anthropic plans to launch its IPO as early as mid-November, with a potential filing as soon as October 23. The company reported Q3 revenue of $16.8 billion and has achieved adjusted profitability for two consecutive quarters. Its roadshow is scheduled to begin November 9, contingent on its S-1 filing becoming public by October 25. The company previously submitted a confidential draft S-1 to the United States Securities and Exchange Commission on June 1.
In contrast, OpenAI has postponed its planned 2026 IPO, now targeting 2027. The company is instead seeking $30 billion in private funding at a $1.4 trillion valuation. Financial data reveals a performance gap between the two firms; in Q2, Anthropic reported $11.6 billion in revenue, while OpenAI reported net revenue of $6.7 billion and an operating loss of $12.3 billion.
OpenAI CEO Sam Altman attributed the delay to AI development risks and the company's complex governance structure, which blends nonprofit and for-profit elements. He stated that it "would be an ill-advised moment to go public" in 2026.
