Anthropic, the AI startup behind the Claude model, has confidentially filed to go public in a potential IPO that could reach a $2 trillion valuation, according to people familiar with the matter. The filing comes as the company prepares for what may become one of the largest public offerings on record, potentially surpassing SpaceX’s $85.7 billion IPO from June 2026.
The company is currently conducting preliminary investor meetings in San Francisco, where executives are addressing concerns from bankers and investors. Key topics include competition from open-source models, margin pressures, and the impact of a slowdown in data center construction, sources told CNBC. Anthropic has declined to comment on the ongoing process.
Public opposition to AI infrastructure is emerging as a potential risk factor in the IPO. A Gallup survey from May 2026 found that 70% of Americans oppose AI data center construction in their area, with nearly half expressing strong opposition. Only about a quarter of respondents supported such projects. The survey highlights growing public skepticism toward the rapid expansion of AI-related infrastructure amid concerns about energy use, environmental impact, and local disruptions.
Anthropic’s IPO timeline remains uncertain, with reports suggesting a possible listing between August and October 2026. The company is expected to finalize its valuation and share allocation in the coming weeks. If successful, the IPO would mark a significant milestone for the AI sector, following SpaceX’s record-breaking public debut.
Investor access and market implications
The IPO’s structure may determine whether UK retail investors can participate directly. The UK’s Financial Conduct Authority introduced a Public Offer Platform (POP) regime in January 2026, which allowed over 100,000 UK investors to buy shares in SpaceX’s IPO. Whether Anthropic secures a similar allocation for UK investors remains unclear, though trading platforms are expected to clarify this once an official IPO date is set.
Analysts note that Anthropic’s potential valuation reflects the broader AI industry’s rapid growth, despite mounting concerns over valuation sustainability and regulatory scrutiny. The company joins rivals like OpenAI, which is reportedly planning its own IPO for 2027.
Background: Anthropic’s rise and industry context
Founded in 2021 by former OpenAI researchers, Anthropic has positioned itself as a leader in AI safety and alignment research, emphasizing responsible development alongside technological advancement. The company’s models, including Claude, compete directly with offerings from OpenAI, Google, and other tech giants. Anthropic has secured significant investment from firms like Amazon and Google, which have integrated its models into their cloud services.
The AI sector has seen hundreds of billions of dollars in capital expenditures in 2026, driven by the demand for advanced AI models and the infrastructure required to support them. Companies like Nvidia, Microsoft, and Meta are among those investing heavily in data centers and GPU procurement to meet this demand. However, the industry faces increasing scrutiny over energy consumption, environmental impact, and local opposition to large-scale data center projects.
As Anthropic moves toward a public listing, the company’s ability to address these challenges—both operational and reputational—will be closely watched by investors and policymakers alike.