AI startup Anthropic has submitted confidential documents for its initial public offering (IPO). The company, which has been chasing OpenAI in terms of valuation and the enterprise AI market, is now taking the lead in the listing process.
According to Bloomberg News on June 1, Anthropic filed preliminary IPO documents the previous day. The company stated on its blog that the number of shares and the pricing have yet to be determined.
The listing could occur as early as this fall. Bloomberg reported that this filing gives Anthropic a chance to enter the stock market ahead of OpenAI, which is also preparing to submit its own confidential IPO documents within weeks, aiming for a fall listing.
Recently, Anthropic has gained prominence in valuation and demand for enterprise AI. Last week, the company secured a $65 billion investment, raising its post-investment valuation to $965 billion. This marks the first time Anthropic's valuation has surpassed that of OpenAI, according to Bloomberg.
The foundation for this growth lies in the enterprise AI market. Anthropic has enhanced its performance in coding and cybersecurity with its product Claude, which has helped it attract more corporate clients. Bloomberg estimates that Anthropic's revenue for the second quarter could reach $10.9 billion, more than double the previous quarter's figures.
Revenue expectations have also rapidly increased. Anthropic reportedly informed investors that its annualized revenue could exceed $50 billion by the end of June, a significant jump from $4 billion in annualized revenue last July. The company is also anticipating its first profit in the second quarter.
Despite the optimistic outlook for its IPO, challenges remain. Anthropic is engaged in a legal dispute with the U.S. government over the Department of Defense's designation of the company as a supply chain risk, claiming this action could impact billions of dollars in revenue.
OpenAI has distanced itself from the IPO competition narrative. In a CNBC interview, CEO Sam Altman stated that they would proceed with an IPO when it makes sense. However, Bloomberg noted that reports of OpenAI restructuring its product lineup and management have raised questions about its growth potential, as some internal revenue and user targets have not been met.
The IPO preparations among AI companies are intertwined with the competition for funding. Anthropic, OpenAI, and SpaceX are all pursuing public listings. Entering the public market would allow them to tap into a broader investor base, making it easier for early investors and employees to cash out their holdings.
* This article has been translated by AI.
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