Anthropic Files for IPO, Testing Investor Demand Amid AI Bubble Concerns

Anthropic, maker of the Claude chatbot, filed its initial public offering registration statement on Oct. 26, offering the first official look at its business and ownership. The 335-page filing did not disclose a valuation, though some investors estimate it could reach $2 trillion, which would make it the largest IPO ever. The company reported $16.3 billion in revenue for its first-half earnings ended June 30, up $15.1 billion from the prior-year period. Anthropic has committed to more than half a trillion dollars in computing costs. It is expected to begin trading before Thanksgiving. The offering serves as a litmus test for investor demand and sets the stage for other private AI companies, including OpenAI. Critics warn that an overvalued listing could inflate an "AI bubble," while supporters argue the company holds an edge through access to customer data on where AI is most valuable.