Anthropic is pushing its IPO timetable into mid-October, sources said. The artificial intelligence company will start pitching its IPO by mid-October at the earliest. As reported by Reuters, Anthropic also plans to list its stock several days before the U.S. midterm elections in November.
The revised timetable comes in contrast to initial plans. Two sources reported that Anthropic was expected to file its IPO prospectus as soon as next week. However, the artificial intelligence company now expects to file its prospectus publicly later in September. The sources pointed out that Anthropic can still revise the timetable. Companies frequently revise their IPO timetables when navigating various market considerations.
Prospectus Release Timing to Define the Offering
The delay might mean that one of the most eagerly awaited technology offerings of the year will be delayed. The rumored valuation for Anthropic is close to $2 trillion. This valuation will make the company one of the largest IPOs ever tried. It will also provide public market investors yet another chance to participate in the artificial intelligence sector.
Anthropic is currently working on defining the financing structure of the offering. The company needs to close a $15 billion revolving credit facility. After that, the analysts working for the participating banks could have a meeting with Anthropic. This was reported earlier by Bloomberg News. Usually, there is a gap of a few weeks between the analyst meeting and the filing of the prospectus. Nevertheless, Anthropic could act more quickly because analysts know about the company, one source notes.
AI IPO Race Draws Investor Interest
The anticipated IPO from Anthropic takes place amid investor interest in the AI IPO race as a whole. OpenAI may consider taking itself public as well, joining other prominent firms in the industry. In the meantime, SpaceX went public with an initial public offering in June, setting a new record with a valuation of $1.77 trillion.
A number of banks are helping with the IPO preparation for Anthropic. Among the banks assisting with the process are Morgan Stanley, Goldman Sachs, JPMorgan, and Citi, sources close to the situation say. Anthropic did not have anything to say about the timeline in question. Similarly, the banks declined to comment. Investors will need to wait until the end of September, when the company will release the prospectus.
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