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Anthropic Could File for an IPO as Soon as Late August, Sources Say

Citigroup is set to join Morgan Stanley, Goldman Sachs and JPMorgan as lead underwriters, Bloomberg reported. Anthropic's annualized revenue has topped $65 billion, and bankers expect an offering that could rival SpaceX's record raise.

Meridians Tech Desk

Published 23 August 2026 · Updated 23 August 2026 · 4 min read

Anthropic Could File for an IPO as Soon as Late August, Sources SayAI
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The short answer

  • Citigroup is set to join Morgan Stanley, Goldman Sachs and JPMorgan as a lead underwriter on Anthropic's planned IPO, Bloomberg reported on August 20, 2026.
  • Anthropic could file publicly for the offering as soon as the end of August 2026, though the underwriting lineup and exact timing are not finalized.
  • Anthropic's annualized revenue run rate topped $65 billion by late July 2026, up sharply from roughly $787 million in the second quarter of 2025.
  • Bankers expect an offering that could match or exceed SpaceX's record-setting IPO, which raised $75 billion ($86.2 billion including overallotment options).

Citigroup is set to join the lead underwriting group on Anthropic's planned initial public offering, alongside Morgan Stanley, Goldman Sachs and JPMorgan, Bloomberg reported on August 20, 2026, citing people familiar with the matter. A public filing could come as soon as the end of August, though the details remain in flux.

What's being reported

Neither Anthropic nor Citigroup commented on the record. Bloomberg's sourcing is people familiar with private discussions, and the bank lineup and filing date could still change before anything becomes official. Anthropic confidentially filed paperwork with the SEC back on June 1, 2026, a step that lets a company prepare for a public listing without disclosing financials until closer to launch.

The numbers behind it

  • Annualized revenue run rate: more than $65 billion as of late July 2026, versus roughly $787 million in Q2 2025.
  • Q2 2026 revenue (preliminary): more than $11.5 billion.
  • Latest private valuation: $965 billion, set in a $65 billion Series H round in May 2026, up from $380 billion in February and $183 billion the previous September.
  • Revolving credit facility being expanded to roughly $10 billion.
  • 2025 net loss: approximately $42 billion, up from about $8.3 billion in 2024.

Why the SpaceX comparison

SpaceX's 2026 IPO raised $75 billion, or $86.2 billion once overallotment options were included — the largest public offering on record. Bankers reportedly expect Anthropic's listing could match or top that figure, though a company's private valuation and its eventual IPO price often diverge once public-market investors weigh in.

The competitive backdrop

Anthropic's move comes as rival OpenAI is separately reported to be targeting a public listing around the same window. Market watchers frame the two offerings as a race to be the first major AI lab to go public, though both companies' private valuations already sit well above what some analysts think public investors will pay.

Sources

Every factual claim above is traceable to these documents. Check them — that is why they are here.

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Meridians Tech Desk is an editorial desk at Meridians, not an individual. A desk byline means the article was produced and fact-checked to that desk's published standards. Read our editorial standards and corrections policy.

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