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

Anthropic has delayed its anticipated initial public offering, with its prospectus now expected in late September and marketing set to begin no earlier than mid-October. The listing could occur days before the U.S. midterm elections in November, although the timetable remains subject to regulatory reviews, market conditions and other preparations. Investors have discussed a valuation of up to $2 trillion and proceeds exceeding $100 billion, potentially making the offering one of the largest ever and a major test of public-market appetite for artificial-intelligence companies. Anthropic is also working to finalize a roughly $15 billion revolving credit facility before analyst meetings related to the deal. Morgan Stanley, Goldman Sachs, JPMorgan and Citi are among the banks involved, while potential IPOs from other AI companies, including OpenAI, could increase investor focus on the sector.