The global IPO supergate is about to open! Anthropic says 100 billion dollar financing Oura and Dunn Dole parent company line up to ring the bell

The Zhitong Finance App learned that the list of companies planning to go public in the next few months is constantly expanding, from smart ring makers Oura and Inspire Brands (Dunkin'), the parent company of well-known North American restaurants and high-frequency fast food brands, to the world's top artificial intelligence startups, including Anthropic. Stable consumer brands and high-growth AI application leaders and capital-heavy artificial intelligence computing power infrastructure vendors are jointly seeking listing, revealing that the global open trading market is simultaneously pricing cash flow certainty and strong AI growth in the long term.

The global initial public offering (IPO) market appears to be forming an intensive listing pipeline spanning consumer health, restaurant chains, cutting-edge artificial intelligence, and data center infrastructure: Oura and Inspire Brands provide a narrative of mature consumer brands and continued cash flow expansion, while Anthropic, Nscale, Switch, and SB Energy represent the urgent need for open market financing by capital-intensive AI industry chain companies.

Among them, Anthropic's potential record fundraising scale of up to 100 billion US dollars may become a landmark transaction to test global investors' risk appetite on artificial intelligence topics, but all timelines are still highly dependent on market fluctuations, valuation tolerance, and the IPO window.

Anthropic PBC, a global AI model/ AI application leader, is expected to surpass the record initial public offering (IPO) scale in the US stock market when SpaceX landed on the US stock market in June. This latest expectation of the AI industry chain can be described as another indication that demand from institutions and retail investors who want to profit from the unprecedented AI investment boom is extremely strong.

The 33.4 billion US dollar catering aircraft carrier heads for an IPO! Dunkin's parent company leads the consumer and cash flow camp

Some media quoted information revealed by people familiar with the matter as reporting that Oura, whose smart ring can track fitness and health indicators, is considering an initial public offering in the US stock market in September or October this year. The company's valuation is expected to be much higher than the $11 billion valuation achieved during the last round of financing.

Inspire Brands has brands such as Dunkin (Dunkin), Abbey Restaurant, and Bath Robin, and is likely to launch as early as the end of this year. A source told the media that its initial public offering could also be delayed until early 2027.

Inspire Brands, which has recently focused on the US food and beverage consumption leader, is not a single food and beverage company. It has six major brands: Dunkin', Baskin-Robbins, Arby's, Buffalo Wild Wings, Jimmy John's, and Sonic. In 2025, global systematic sales reached about US$33.4 billion and more than 33,400 stores worldwide, making it one of the world's largest multi-brand catering platforms; acquired in 2020 After Dunkin', Inspire became the second-largest restaurant group in the US based on system sales and number of stores in the US.

From an investment perspective, Inspire Brands' core values are franchise-driven asset-light cash flow, cross-brand procurement, and digital platform collaboration; the main risks are pressure on low- and middle-income consumers in the US, rising labor and food costs, and post-IPO debt repayment constraints on valuation.

Dunkin' is essentially a high-frequency fast food platform “dominated by coffee and cold drinks, breakfast food collaboration” in the US, and is not just a donut shop: its core products cover coffee, espresso, iced drinks and energy drinks, donuts and baked goods, breakfast sandwiches and portable snacks. The business model highlights franchise, drive-through, mobile ordering, speed and cost performance. In 2025, its US system had sales of about US$13.1 billion, rising to the fifth largest restaurant chain in the US, and the second-largest coffee chain after Starbucks; it has about 10,000 stores in the US and more than 14,200 stores worldwide.

According to Technomic data, Starbucks still accounts for about 48% of US coffee shop spending in 2025, but Dunkin' has increased its share for two consecutive years; its incremental logic is expanding from traditional breakfast periods to consumption scenarios for cold drinks, energy drinks, afternoon tea, and exquisite desserts.

Claude is rushing to the top of capital! Anthropic sword points to $100 billion in financing

According to media reports, citing information revealed by people familiar with the matter, the highly anticipated initial public offering of Claude developer Anthropic is expected to raise up to 100 billion US dollars. Specific listing activities may take place in September or October.

Nscale, an artificial intelligence cloud computing company headquartered in the UK, plans to raise around $3 billion through an initial public offering in the US, which is likely to take place as soon as next month.

Data center company Switch and SB Energy, supported by the SoftBank Group founded by legendary investor Sun Zhengyi, are meeting with investors and may be planning to go public later this year. According to media reports, Nscale is also meeting with potential investors.

All of the initial public offering plans described above depend on market conditions, and there is no guarantee that any company will proceed with the listing as planned.

According to statistics compiled by the agency, SpaceX, a rocket and satellite company owned by Tesla CEO and the world's richest man Elon Musk, initially successfully raised 75 billion US dollars, making it the largest initial stock offering in history, with a market value of 1.77 trillion US dollars when it landed in the US stock market. After including the so-called “over-allotment option,” the final fundraising scale increased to an unprecedented $86.2 billion; if stocks rise in the early stages of listing, this option is usually exercised.

People familiar with the matter said that related discussions are still ongoing, and details such as the scale of Anthropic's current IPO may still change.

The scale of Anthropic's more ambitious IPO target than SpaceX is enough to reflect that the hottest leaders in the artificial intelligence industry are reshaping the technology investment landscape. The company, which has only been in existence for five years, raised 65 billion US dollars at a valuation of 965 billion US dollars in May this year, surpassing the $852 billion valuation reached by rival OpenAI when it raised 122 billion US dollars in March this year.

Demand for artificial intelligence-related applications is growing rapidly, as evidenced by the sharp rise in Anthropic's revenue statistics. According to media reports citing information revealed by people familiar with the matter, the company's initial revenue for the second quarter exceeded 11.5 billion US dollars, while the same period in 2025 was only about 787 million US dollars; by the end of July, its annualized revenue run rate (run rate) had reached an astonishing 65 billion US dollars. The operating rate of revenue is an indicator for estimating annual revenue based on short-term revenue.

The demand for large models has moved from one-time question-and-answer to a multi-step workflow where AI agents continuously complete planning, search, code execution, tool call, and result verification: each task consumes tokens exponentially, while depositing actual usage data and evaluation feedback, driving another increase in model capability, task success rate, customer stickiness, and revenue, forming a closed loop of “more calls — stronger models — higher automation rate — more paid calls”.

Claude Cowork and its plug-ins for law, sales, marketing, and data analysis are the epitome of this paradigm — it elevates Claude from a chat portal to the “executive layer” of enterprise work, which has raised market concerns about shrinking traditional software seats, commercialization of functions, and weakening pricing power. Related releases have triggered the software and data services sector to evaporate about US$285 billion in a single day, and Goldman Sachs's US software stock basket falls 6% in a single day; although this shock does not mean that traditional SaaS will be replaced immediately, it marks that global AI competition has moved from “who has the strongest” The “model” has entered a new phase of “who can let agents take over most workflows and turn tokens into cash flow”.