Anthropic delays IPO to mid-October amid $2 trillion valuation test

Anthropic has delayed its anticipated IPO timeline, with marketing now expected to begin in mid-October at the earliest and the listing potentially occurring shortly before the U.S. midterm elections in November. The company is expected to publicly file its IPO prospectus in late September, after having confidentially submitted a draft registration statement to the SEC in June. Anthropic is also seeking to finalize a roughly $15 billion revolving credit facility, while major banks including Morgan Stanley, Goldman Sachs, JPMorgan and Citi work on the offering. The IPO could value Anthropic near $2 trillion, making it one of the largest public offerings ever and a major test of whether private-market valuations for leading AI companies will hold up with public investors.