Want to Invest in Anthropic? Here’s What to Know Before the IPO
Plus, what Anthropic’s amended filing still leaves out, and what its ownership structure means for public shareholders.
Anthropic’s days as a private company are ticking down. The artificial intelligence frontier lab was founded in 2021 and is reportedly expected to price in mid-November. Many market watchers are predicting the company’s IPO will be one of the biggest of the year. Anthropic recently updated its S-1 to disclose how much revenue it generated in Q3 2026. A key figure left blank in the Claude chatbot maker’s original filing with the SEC. What would the private company’s arrival to the public market mean for investors and what should they watch for? Harrison Rolfes is a senior research analyst for Morningstar’s PitchBook, and he’s been tracking Anthropic’s rise.
Anthropic’s IPO to Cast Long Shadow Over Private AI Stocks
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On this episode:
00:00:00 Welcome
00:01:11 What Anthropic Builds, Who Its Customers Are, and Its Rivals
00:03:08 Why PitchBook Lowered Anthropic’s AI Business Quality Score
00:05:20 Anthropic’s Revenue Growth, Spending, and Profitability Explained
00:10:20 Anthropic’s Debt and Long-Term Commitments, Plus Its Ownership Structure
00:13:02 Three Disclosures Wanted in Anthropic’s Amended Filing
00:17:01 SpaceX’s IPO Lesson, OpenAI’s Timing, and Anthropic IPO Takeaway
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