Anthropic Targets Mid-November IPO at a Valuation of Up to $2 Trillion

Anthropic is moving to go public before Thanksgiving, with formal marketing potentially beginning the week of November 9 and trading expected to commence before the November 26 holiday, according to Bloomberg. The AI company behind the Claude model family pushed back earlier listing plans but is now firmly targeting a year-end debut.

Prospective investors see a fair valuation in the range of $1.8 trillion to $2 trillion, which would make Anthropic one of the most valuable companies ever to go public. The deal is expected to match or exceed the size of SpaceX's IPO in scale. Prediction market platform Kalshi placed a 71% probability on Anthropic officially announcing the IPO before December 1, rising to 76% before January 1, reflecting strong market conviction around the timeline even as the company cautioned the schedule could still shift.

The move comes as rival OpenAI has postponed its own listing plans, leaving Anthropic positioned to capture the dominant share of public investor appetite for large-scale AI exposure. Morgan Stanley, Goldman Sachs, and JPMorgan have been lined up to run the book.