Anthropic Has Filed For An IPO But Has Not Yet Discussed a Valuation: Report

Anthropic's CFO Krishna Rao is leading the company's IPO meetings with prospective investors, but there have not been any talks about its potential valuation, according to a new report. There is no official timeline for the IPO either.

CNBC detailed that the early meetings have been high level but mainly to test the waters with some investors. There, the company has discussed its models, its position in the market and its management, the outlet added.

It went on to note that some analysts expect the IPO to seek a $2 trillion valuation, but the number is not coming from the company.

Anthropic had confidentially filed its prospectus with the SEC in June. The filing remains confidential as it undergoes revision by SEC reviews.

"This gives us the option to go public after the SEC completes its review," the company said in a statement. "The number of shares to be offered and the price have not yet been set."

Days before, the company had finished a Series H round in which it raised $65 billion.

The round, which valued the company at $965 billion, was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital, Axios noted back then. The company said the new funding will be used to expand computing capacity, scale its Claude AI products and continue safety and interpretability research.

Krishna Rao said in a company statement that the funding would help it respond to growing demand for its AI products and maintain its research efforts.

"This funding will help us serve the historic demand we are experiencing, stay at the research frontier and bring Claude to more of the places where work happens," Rao said.

The company also disclosed that its annualized revenue run rate surpassed $47 billion earlier this month.

Part of the fundraising includes $15 billion in previously committed investments from hyperscale infrastructure partners, including $5 billion from Amazon, the report said. Amazon has become one of Anthropic's biggest backers as competition intensifies among major cloud providers seeking access to leading AI models.

Anthropic, founded in 2021 by former OpenAI executives including siblings Dario and Daniela Amodei, has positioned itself as a major rival to OpenAI with a focus on AI safety and enterprise services. Its Claude chatbot competes directly with OpenAI's ChatGPT as well as products from Google and Meta.