Rumor has it that Anthropic's initial public prospectus on Friday hit the biggest IPO in history with a valuation of $2 trillion

The Zhitong Finance App learned that according to three people familiar with the matter, artificial intelligence (AI) company Anthropic will publicly submit a prospectus for S-1 investors as early as Friday. This will be a critical step in the company's listing process and is expected to create the largest IPO ever. Wall Street anticipates that the company could raise up to $100 billion at a valuation of $2 trillion. As investors' concerns about huge expenses in the AI industry heat up, this IPO is widely viewed as a key test to the market's interest in the AI boom.

Anthropic secretly submitted a draft IPO registration statement to the US Securities and Exchange Commission (SEC) in June of this year. According to SEC rules, companies using the confidential filing process must disclose registration materials 15 calendar days before the official investor roadshow begins. Anthropic did not comment on S-1 submission timing.

The public submission of a prospectus will remove key procedural barriers to the November listing, but the timing of issuance will still depend on market conditions and other factors. More importantly, ordinary investors will see for the first time the financial details and risks of one of the fastest growing companies in the AI industry.

Anthropic is investing billions of dollars in AI infrastructure to train and run its Claude series models. Relevant partners include Google (GOOG.US, GOOGL.US) and Amazon (AMZN.US), which also leases computing power from SpaceX (SPCX.US)'s Colossus 1 data center.

Anthropic achieved revenue of US$16.3 billion and net loss of more than US$80 billion in the first half of 2026, the media reported on Tuesday. According to reports, Anthropic told investors at its San Francisco office last week that third-quarter revenue increased from US$11.5 billion in the second quarter to US$16.8 billion, and that the company had achieved profits according to the adjusted caliber. However, the month-on-month slowdown in revenue growth still raises concerns.

Against the backdrop of increasingly fierce competition in the IPO market this year, this huge amount of financing is particularly remarkable. Earlier this week, South Korean data center service provider Elice plummeted 32% on the first day of listing after raising $151 million. Nvidia-backed Firmus Grid abruptly shelved its listing plans earlier this month because investors objected to its proposed valuation. Several other companies delayed listing due to market conditions.

Recently, the stock prices of AI-related listed companies have also fluctuated, as investors have become more cautious about huge spending demands. Among them, CoreWeave has been particularly scrutinized, with investors questioning whether its future revenue can support its huge debt burden.

One source said that given Anthropic's massive size, the timing of its IPO is also expected to have a significant impact on other companies seeking to go public in the coming weeks.

Anthropic was co-founded by CEO Dario Amodei and his sister Daniela, and Daniela is the company's president. The company has established a firm foothold in the corporate market through Claude chatbots, popular AI programming tools Claude Code, and Claude Cowork.

Competitor OpenAI was initially expected to launch an IPO this year, and is currently not expected to enter the public market until early 2027.