Private investors are clamoring to invest in Anthropic, as the AI model maker is experiencing dizzying growth. Multiple investors told TechCrunch that the company’s $65 billion fundraising at a $965 billion valuation was greatly oversubscribed. With strong private demand still in play, Anthropic has revealed it is taking steps toward a public listing by filing confidentially for an IPO. Co-founder Daniela Amodei, speaking at the Bloomberg Tech conference on Thursday, stated that the decision is primarily about capital. "It's a really big upfront cost to train the models and to serve inference on them," she said. “My guess is that over time, the sort of core set of companies that are working to advance the frontier are just going to need access to capital, and I think the public market is very well suited to that.”
Anthropic has been growing at a breakneck pace, announcing in May that its annualized revenue crossed $47 billion, a dramatic increase from roughly $9 billion at the end of 2025. However, this trajectory faces a real test. Companies like Uber have indicated that while AI can deliver returns, not all their AI spending has proven productive, raising the prospect that corporations could begin to rein in those budgets and slow growth across the sector. This doesn’t faze Amodei, who believes businesses are still early in figuring out how to effectively deploy AI. “The use cases today, I expect will continue to be the primary driver of efficiency or creativity, whether that’s coding, financial services, legal, or health care,” she said. “But as the business community gets more familiar with the tools, we’re all going to learn together. My hope is that over time it’ll be more incorporated into the day-to-day of how humans do our work, and there will actually be a lot more value realized.”
Amodei also addressed why, unlike rivals OpenAI and Elon Musk’s xAI, Anthropic isn’t building its own data centers to meet the company’s growing compute needs. “Anthropic’s view has always been wanting to plan for the best outcome but not overextend ourselves such that we’re buying more compute than we could productively use,” she stated. “It’s really hard to predict that perfectly. We would much prefer to be on the side of having a little bit more demand for the product than we’re able to serve than the inverse.” Last month, the company surprised the AI industry by partnering with xAI for compute capacity, a deal later disclosed in SpaceX’s S-1 filing to cost Anthropic $1.25 billion per month.
Blogger's Review: Anthropic's IPO initiative highlights the robust funding capabilities within the AI sector, yet it also underscores the uncertainty surrounding AI investment returns. As market competition intensifies, the effective utilization of AI resources will become a key determinant of corporate success. Amodei's insights emphasize the growth potential of technology applications in the industry, warranting continued attention.