TLDR
- Anthropic has retained Wilson Sonsini Goodrich & Rosati to prepare for a potential stock market debut in 2026.
- The AI company is in talks for private funding that would value it over $300 billion.
- Projected annual revenue could reach $26 billion next year, up from current run rate.
- Microsoft and Nvidia are committing $15 billion combined to the funding round.
- The move sets up direct competition with OpenAI for the largest AI company IPO.
Anthropic has appointed Wilson Sonsini Goodrich & Rosati as legal counsel for a possible initial public offering targeted for 2026. Financial Times reported the development Tuesday citing multiple sources familiar with the plans.
The San Francisco-based company operates the Claude AI assistant and competes with OpenAI’s ChatGPT platform. Wilson Sonsini previously managed IPOs for Google, LinkedIn and Lyft.
An Anthropic representative told media outlets the company maintains no fixed timeline for going public. The representative stated companies at Anthropic’s operational scale typically follow public company procedures.
The law firm has worked with Anthropic on various legal matters over recent years. Investment banks have also held preliminary discussions with the startup about the potential offering.
These conversations remain in early phases without formal underwriter appointments. Sources described the talks as exploratory rather than binding commitments.
Valuation and Investment Details
Anthropic is pursuing a private financing round that would establish a valuation exceeding $300 billion. The round includes a combined $15 billion commitment from Microsoft and Nvidia.
The company’s valuation in private markets recently stood at $183 billion. Industry reports from November indicated the figure had risen toward $350 billion following tech giant investments.
Anthropic committed to utilizing $30 billion in Microsoft Azure cloud computing services. The company separately announced plans for $50 billion in data center construction across Texas and New York.
Dario Amodei serves as chief executive after co-founding the company in 2021 with other OpenAI alumni. Major investors include Alphabet’s Google and Amazon.
Financial Projections and Expansion
The company forecasts annual revenue approaching $26 billion by next year. This would mark nearly three times the current revenue rate.
Anthropic serves more than 300,000 business and enterprise accounts globally. The company recently added Krishna Rao from Airbnb to its leadership team.
Rao previously worked on Airbnb’s public offering in 2020. Anthropic has tripled its workforce in international markets as part of expansion efforts.
The company faces direct competition from OpenAI in the AI assistant sector. OpenAI is also preparing for a potential public listing with similar 2026 timing.
OpenAI Competition
Reuters previously reported OpenAI could file regulatory documents for an IPO in late 2026. The company raised $6.6 billion in October at a $500 billion private valuation.
OpenAI CFO Sarah Friar stated the company has no near-term listing plans despite preparation activities. Analysts suggest OpenAI could pursue valuations reaching $1 trillion in public markets.
Both companies operate at losses while investing heavily in infrastructure and research. Enterprise demand for AI tools continues growing across business sectors.
A public offering would give Anthropic access to capital markets for future fundraising. The company would also gain publicly traded stock for potential acquisitions.
Anthropic maintains partnerships with major cloud providers and chip manufacturers. The company continues scaling operations as AI adoption increases among enterprise customers.
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