Anthropic: Record IPO in 2026 Despite Regulatory Challenges

An Ambitious IPO for Anthropic

The AI-focused startup, Anthropic, is considering going public as early as the fourth quarter of 2026. This information, reported by The Information, comes from internal sources within the company who discussed this possibility during a recent meeting.

Financial institutions preparing to orchestrate this operation anticipate that the company could raise over $60 billion. However, the exact amount will only be determined as the initial public offering (IPO) approaches.

Although these plans are under discussion, they remain subject to change. Anthropic may still choose not to go public. However, if the IPO materializes, it could rank among the largest in history, just behind SpaceX's, which plans to raise up to $75 billion as early as June.

Impressive Growth Ahead of the IPO

Anthropic has experienced spectacular growth in recent years. In February, during a Series G funding round, the company was valued at $380 billion after raising $30 billion. A few months earlier, in September 2025, its valuation was $183 billion following a Series F round that raised $13 billion.

The company attributes this growing interest from investors to its expertise in enterprise AI and programming. The funds raised are intended for advanced research, the development of new products, and the expansion of its infrastructure.

On March 4, Anthropic announced that it had surpassed $19 billion in annual revenue, a figure that more than doubled from the $9 billion recorded three months earlier. This performance is largely due to the success of its programming tool, Claude Code, as well as other AI products.

On March 23, the startup also revealed that its Claude model could now utilize clients' computers to perform tasks such as exporting presentations to PDF format or associating them with invitations. These innovations enhance Anthropic's appeal to potential investors.

However, this rapid growth places considerable pressure on the company to maintain its performance in the public market. Analysts and future shareholders will be keenly aware of Anthropic's ability to convert its current success into sustainable revenue.

Regulatory Challenges in the Background

Last month, Dario Amodei, the CEO of Anthropic, expressed his opposition to the U.S. Department of Defense. He stated that his company's AI models should not be used to surveil American citizens or to pilot autonomous weapons.

This position quickly drew criticism from Defense Secretary Pete Hegseth and Donald Trump, who accused Amodei of trying to impose his own rules on the use of technology developed by Anthropic.

As a result, the company was classified as a "supply chain risk," a designation typically reserved for companies from countries deemed hostile. However, on March 26, a federal judge in San Francisco issued a preliminary injunction preventing the government from maintaining this classification and banning Anthropic's products from federal agencies.

Despite this temporary ruling, uncertainty remains. The final verdict in the lawsuit filed by Anthropic to contest this ban could take several months. Analysts and potential investors will closely monitor the developments in this case, as an unfavorable outcome could harm the company's appeal in the public market.

On March 10, Anthropic had already alerted the court that this ban could cost it billions of dollars, with over 100 clients expressing concerns about continuing their relationships with the company.