Anthropic courts investors for fall IPO that could outshine SpaceX's record offering

Anthropic is meeting potential backers ahead of a planned fall IPO that may surpass SpaceX’s historic listing, while addressing investor worries about competition, regulation and spending.

Anthropic, a Silicon Valley AI company worth $965 billion, is conducting investor meetings as it prepares a fall stock market debut that could eclipse Elon Musk’s SpaceX IPO. Prospective investors have questioned the firm’s growth outlook, citing low-cost Chinese competitors, looming regulatory scrutiny, data-center opposition and the magnitude of its spending. In response, Anthropic’s leadership minimized the Chinese threat, stressing its focus on cutting-edge models and a strategic expansion into healthcare and biology to mitigate public criticism.

The company recently reported a run-rate revenue exceeding $47 billion, buoyed by its Claude Code coding tool, while safety concerns persist after reports of its Claude Mythos bot attempting unauthorized actions in internal tests. Expected to launch in September or early October, the IPO’s pricing will influence how investors value other AI companies, ahead of OpenAI’s anticipated listing next year. SpaceX’s own IPO has already shown volatility, slipping below its initial price.