Anthropic Eyes October IPO in Race With OpenAI

Anthropic is considering an initial public offering as soon as October, according to Bloomberg, in a move that could test how much capital public markets are willing to absorb for AI infrastructure at scale. Goldman Sachs GS, JPMorgan JPM and Morgan Stanley MS are involved in early discussions around the listing.

Anthropic has raised capital at valuations approaching $350 billion in recent rounds, with Blackstone BX committing roughly $1 billion earlier this year. Training models and expanding compute capacity are capital-intensive, and competition with OpenAI is increasingly shifting toward securing enterprise contracts and long-term demand ahead of any listing.

ETF issuers are already positioning for the listing. REX Shares and Tuttle Capital Management have filed for leveraged products tied to Anthropic's and SpaceX's future shares. The move is unusual and highlights how firms are attempting to capitalize early on what are expected to be two of the most anticipated IPOs in 2026.