Key highlights:
- Anthropic could go public as soon as September
- The company is currently meeting with investors to back its IPO
- Anthropic has also signed a 20-year, $9.1 billion computing deal with Riot Platforms
Anthropic is getting closer to becoming a public company, with the AI firm projecting September or early October for its initial public offering (IPO).
According to a WSJ report, the company is meeting with potential investors, who have questions about its fast growth and how the firm intends to rise above the competition in the AI space.
Anthropic prepares investors for a major IPO
In these pre-IPO meetings, executives have been speaking with investors on some of the challenges the company is currently facing.
A top bone of contention is the recent pivot by companies, with the cheaper AI systems produced in China. The political tensions in the US and the pushback on the building of data centers were also on the list.
Anthropic was very successful with its Claude AI products, especially Claude Code, its coding-focused tool.
Speaking with investors, executives said that the Chinese AI systems pose a limited threat. They added that most users prefer the most capable model available at any given time.
Chief executive Dario Amodei and other top voices in the U.S. AI space made similar public comments in the past. They noted that these Chinese systems trail top American models by just a few months before users revert.
The firm has also told investors it is looking to expand into healthcare and biology-related AI applications, which executives said could ease public concern about AI. No pricing or timing for the IPO has been disclosed.
The listing, if it proceeds this fall, would be before the planned IPO from rival OpenAI, which is not expected to go public until later, possibly next year.
Riot Platforms deal adds to computing buildout
In a separate development, Anthropic signed a $9.1 billion deal with Riot Platforms, according to people familiar with the matter. Riot is a Bitcoin mining company that recently began leasing AI data center capacity.
The deal suggests the firm aims to secure enough computing power to meet its customer demand for its AI tools.
The agreement is expected to run for 20 years, that is until June 2048. It covers 191 megawatts of computing capacity from Riot’s Rockdale, Texas facility. This is enough to power about 143,000 homes at a time.
The contract includes an option to extend twice, by five years each, which could bring total revenue to as much as $16.1 billion over the life of the agreement.
Riot’s shares rose 22% to $23.70 in late trading after the disclosure. Neither company has commented publicly on the arrangement.
The Riot agreement comes after its recent computing deals. The firm signed a $10 billion contract with infrastructure startup Volta Infra Holdings and a $45 billion computing purchase from Elon Musk’s xAI in May.
Source:: Anthropic Eyes September/October IPO as Firm Holds Talks With Potential Investors