Anthropic Poised for Historic IPO in Rivalry with OpenAI: FT Report

Anthropic's Ambitious Move Toward an IPO and Private Funding

Anthropic, the artificial intelligence startup known for its popular Claude chatbot, is reportedly considering a massive initial public offering (IPO) that could be one of the largest in tech history. The company has also been exploring private funding rounds that could push its valuation past $300 billion, according to recent reports.

The potential IPO comes as Anthropic competes with OpenAI, the creator of ChatGPT, which is also reportedly preparing for a public listing. This development raises questions about investor appetite for high-burn AI startups, especially amid growing concerns about an AI bubble.

Legal and Financial Preparations for the IPO

According to the Financial Times, Anthropic has engaged Wilson Sonsini Goodrich & Rosati, a law firm with a strong track record in handling major tech IPOs, including those of Google, LinkedIn, and Lyft. The firm has been advising Anthropic for several years, and its involvement signals the company’s serious consideration of going public.

In addition to legal preparations, Anthropic has reportedly discussed a potential IPO with major investment banks. However, sources described these discussions as preliminary and informal, indicating that no concrete plans have been finalized yet.

Private Funding and Strategic Investments

Beyond the IPO, Anthropic is also pursuing a private funding round that could value the company above $300 billion. This includes a $15 billion combined commitment from Microsoft and Nvidia, two of the most influential players in the tech industry. The startup recently received investments of up to $5 billion from Microsoft and $10 billion from Nvidia, which contributed to its reported valuation of $350 billion.

These financial moves highlight Anthropic’s aggressive expansion strategy. The company has announced a $50 billion AI infrastructure build-out, including data centers in Texas and New York, and has tripled its international workforce in recent months.

Internal Preparations and Leadership Changes

According to one of the FT’s sources, Anthropic has been working internally on preparations for a potential IPO. While specific details were not disclosed, the company’s leadership has been actively shaping its path toward public markets.

Anthropic’s CEO, Dario Amodei, has led the company through significant changes, including the hiring of Krishna Rao, a former Airbnb executive who played a key role in that company’s 2020 IPO. This move suggests that Anthropic is drawing on expertise from successful tech exits to guide its own journey.

Market Competition and Investor Sentiment

The race between Anthropic and OpenAI for dominance in the AI space is intensifying. While OpenAI has been rumored to be considering an IPO, its CFO recently stated that the company is not pursuing a near-term listing. OpenAI closed a $6.6 billion share sale at a $500 billion valuation in October, but it remains unclear if the company will take further steps toward an IPO.

Investors, however, seem optimistic about Anthropic’s potential IPO. According to the FT report, some investors believe the company could "seize the initiative" from OpenAI by being among the first to go public.

Company Response and Uncertainty

Despite the speculation, an Anthropic spokesperson told the FT that it is "fairly standard practice for companies operating at our scale and revenue level to effectively operate as if they are publicly traded companies." The spokesperson added that no decisions have been made on timing or whether to go public.

Anthropic and Wilson Sonsini have not responded to requests for comment, leaving many questions unanswered about the company’s future plans.