A November IPO buys Anthropic time to show Q3 numbers

Anthropic, last valued privately at $965 billion after its $65 billion Series H on May 28, now plans to go public in November, the Wall Street Journal reported on September 18, citing people familiar with the matter. Many investors had been expecting the offering, which was set to break records, in October.

Some of Anthropic’s advisers see an upside in waiting, the Journal said. A November listing leaves time for the company to share its third-quarter financials. Those advisers say the numbers show a strong competitive position, even after OpenAI launched its newest model, Astra, in September.

The new date comes as leaders of the biggest companies in the AI race call for a slowdown in developing the technology, and as public discourse on AI safety hit a fever pitch in the week before the report. Some people familiar with the timing said the switch to November was decided before that.

Anthropic confidentially filed a draft S-1 with the SEC on June 1. With a confidential filing, the listing date, offer price and deal size stay open until later, and the target has already moved more than once. Earlier in September, people familiar with the matter pointed to a listing days before the November midterms, with a prospectus in late September and marketing starting in mid-October at the earliest.

Anthropic plans to meet prospective investors in the coming days.