Anthropic (ANTH.PVT) is preparing to publicly file paperwork for its initial public offering (IPO) as early as the end of the month. According to Bloomberg, the AI startup is angling to match or surpass SpaceX's (SPXC) record-setting $75 billion June IPO.
The filing will give the outside world its first look at the ins and outs of Anthropic's financials, including everything from quarterly revenue growth to its biggest business segments, and more.
If the AI startup sticks to its timeline, it would easily beat rival OpenAI (OPAI.PVT) to market. The ChatGPT developer is widely expected to IPO later this year or in early 2027. Cofounded by former OpenAI employees Dario Amodei, who serves as CEO, and his sister Daniela Amodei in 2021, Anthropic was at one point seen as an also-ran next to OpenAI.
But the company's Claude Code AI coding agent turned Anthropic into an enterprise juggernaut. Since then, the company has debuted a number of additional enterprise software offerings, including Claude Cowork, as well as integrations with leading productivity suites such as Microsoft (MSFT) 365.
Anthropic raised $65 billion at a valuation of $965 billion during its May funding round. In March, OpenAI announced it raised $122 billion at an $852 billion valuation.
Earlier this week, The Wall Street Journal reported that OpenAI reported Q2 revenue of $6.2 billion, up 18% from the prior quarter. But according to Bloomberg, Anthropic saw revenue of $11.5 billion in its latest quarter, up 14x versus the same quarter last year.
But Anthropic has also run afoul of the Trump administration, which has sought to limit the Defense Department's ability to use its AI to develop fully autonomous weapons or for the mass surveillance of Americans.
The administration went on to designate Anthropic a supply chain threat.
Both OpenAI and Anthropic also have to contend with up-and-coming open-source AI software, especially low-cost offerings from China, which could pull away potential customers.
Email Daniel Howley at dhowley@yahoofinance.com. Follow him on X at @DanielHowley.
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