The company's stock market listing is now planned for mid-November after three shifts in the timetable over the last 60 days. Anthropic is seeking to match or exceed the $86 billion fundraise achieved by SpaceX, the largest for a private firm, to include third-quarter financial results in its filing. The AI laboratory is reportedly targeting a valuation between $2 trillion and $3 trillion for its Nasdaq debut, with Morgan Stanley, Goldman Sachs, JPMorgan and Citi acting as banks for the deal.

Anthropic filed a confidential draft S-1 with the SEC on June 1 following a May funding round that raised $65B at a $965B post-money valuation. The firm is currently finalizing a $15B revolving credit facility and reported Q2 revenue above $11.5B, a roughly 14-fold increase over the previous year. Backers expect a year-end run rate of $100B to $120B and a second profitable quarter in Q3, while rival OpenAI has pushed its own debut to 2027.