Anthropic, a leading artificial intelligence company, has begun holding preliminary meetings with prospective investors ahead of its anticipated initial public offering (IPO), according to sources cited by CNBC. These early meetings, led by CFO Krishna Rao, have focused on high-level topics such as the company's Claude AI models, the development of its coding assistant Claude Code, its enterprise market position, management team, and the number of product releases. Notably, these discussions have not included specific financial details or valuation figures [1].
Anthropic confidentially filed its prospectus with the Securities and Exchange Commission in June, but has not disclosed an official timeline for its public debut. The company was founded in 2021 by former OpenAI researchers and executives, positioning itself as a chief rival to OpenAI. In late May, Anthropic closed a funding round at a $965 billion valuation, surpassing OpenAI's $852 billion valuation from late March [1].
The company reported in May that its run-rate revenue had crossed $47 billion, a significant increase from the approximately $10 billion in revenue generated in all of 2025. Some investors, based on their own analyses, expect Anthropic could seek a valuation of $2 trillion or more, though this figure has not been discussed or confirmed by Anthropic itself [1].
The broader AI market remains highly competitive, with OpenAI also preparing for a potential IPO, having confidentially filed its prospectus shortly after Anthropic. However, OpenAI had not held pre-IPO meetings or set a timeline as of late June. The recent IPO of Elon Musk's SpaceX, which acquired xAI earlier in the year, saw a volatile debut on the Nasdaq, with the stock down roughly 38% from its intraday high in the first two months of trading [1].
CONCLUSION
Anthropic's early IPO preparations, led by CFO Krishna Rao, have generated significant market interest, though no financials or valuation targets have been discussed with investors. The company's rapid revenue growth and high-profile investor expectations underscore its prominence in the competitive AI sector. The market is closely watching Anthropic's next steps as it moves toward a potentially historic public listing.