Anthropic is moving closer to a public market debut. The company's underwriters have begun scheduling meetings between Anthropic executives and prospective institutional investors, a step that typically precedes a formal IPO roadshow by several weeks, CNBC reported on July 15, 2026.
The AI safety company, valued at $965 billion after its May 2026 Series H funding round, is targeting a Nasdaq listing in fall 2026, with October cited as the leading timing by multiple sources. Some forecasts project the offering could price the company above $1 trillion, which would make it one of the largest IPOs in U.S. market history, according to The Motley Fool analysis from July 5, 2026.
Where the IPO process stands
Anthropic filed a confidential S-1 registration statement with the SEC in June 2026, per Fortune. Confidential filings let large private issuers complete SEC review before their financials become public, a path made available under the Jumpstart Our Business Startups Act. The transition from confidential filing to active investor meetings signals that the SEC review is advancing and the company is preparing to set a public listing date.
The company's $47 billion annualized revenue run rate is the central pitch in the pre-IPO meetings now being organized. The Wall Street Journal has reported that Anthropic expects 130% revenue growth and its first operating profit, a combination that investors in AI infrastructure companies are treating as a defining commercial milestone.
Anthropic moving faster than OpenAI
Anthropic appears to be on a faster IPO track than its larger rival OpenAI. OpenAI has also filed confidentially for an IPO and is targeting late 2026, but internal reporting cited by Yahoo Finance and Forbes indicates that OpenAI CFO Sarah Friar has advocated for delaying to 2027, citing spending commitments and the time needed to meet public-company reporting requirements. Anthropic, by contrast, is already in pre-roadshow investor meetings, according to CNBC.