Anthropic preparing for an IPO

Anthropic is holding early discussions on one of the largest potential initial public offerings. The talks come as the artificial intelligence company also considers new private financing that could place its valuation above $300 billion.

Anthropic has hired Wilson Sonsini Goodrich & Rosati for IPO preparation. The law firm has advised on several major technology listings, including those of Google, LinkedIn and Lyft. The report cited two people familiar with the company’s plans.

Anthropic is led by chief executive Dario Amodei. The company is also seeking a private fundraising round that could exceed $300 billion in valuation and includes a combined $15 billion commitment from Microsoft and Nvidia. Discussions with major investment banks on a possible IPO have taken place, though sources described them as early and informal.

A spokesperson said that companies at Anthropic’s scale often operate as if publicly traded. The spokesperson said no decisions had been made on timing or whether the company will proceed with a listing.

One source said the company has been conducting internal work tied to a potential public debut, though no details were provided. The report follows recent changes at the company, including the hiring of former Airbnb executive Krishna Rao, who played a significant role in Airbnb’s 2020 IPO.

Last month that Anthropic had been valued at about $350 billion after receiving up to $5 billion from Microsoft and $10 billion from Nvidia. The company is expanding rapidly as it seeks to challenge OpenAI in the generative AI sector. Anthropic recently announced a $50 billion plan to build AI data centers in Texas and New York and has tripled its international workforce.

Investors expressed optimism about the company’s prospects and suggested an IPO could allow Anthropic to move ahead of OpenAI. OpenAI has been rumored to be weighing a public listing, though its chief financial officer recently said the company is not pursuing a near-term IPO after closing a $6.6 billion share sale at a $500 billion valuation in October.