PARTNERSHIPS | COMMUNITY | PODCAST | FRIENDS
Anthropic Files Confidentially For An IPO Ahead Of Rival OpenAI
Making money moves // Illustration by Kate Walker
Anthropic confidentially filed to go public on Monday, getting in line ahead of OpenAI. In a race this big, nobody wants to fall behind.
Why It Hits: When two rivals are racing to go public, the company that lists first often captures much of the available capital before the other even rings the bell. So, Anthropic moved early.
Reading The Tape: While the company may not have needed to file so quickly, it did anyway — and the reasons stack up.
Anthropic was founded in 2021 by Dario Amodei and a group of researchers who left OpenAI over differences in vision, so beating their former employer to Wall Street carries a little extra weight.
The company is also on an absolute tear. Just days before filing, it raised another $65 billion, pushing its valuation to a staggering $965 billion and making Anthropic the world’s most valuable AI startup for the first time.
History suggests the rush may be worth it. When Uber and Lyft raced to go public in 2019, Lyft filed first and initially held up better, while Uber closed its first day of trading well below its offer price. With SpaceX expected to list later this month and OpenAI reportedly only weeks away from filing, Anthropic wasn’t going to wait.
Follow The Money: Racing jargon aside, an IPO is essentially a fundraiser. Amodei says Anthropic is seeing “unprecedented demand,” and meeting it requires staggering amounts of computing power from companies like Amazon, Google, and Microsoft. That money has to come from somewhere, and Wall Street happens to have plenty of it.
The catch is that taking the cash also means opening the books. For all the buzz around Claude, nobody outside the company knows whether Anthropic is actually profitable. Per The NYT, its run rate hit $47 billion in May, but how much of that makes it to the bottom line is still anyone’s guess.
The Long Bet: If Anthropic’s debut goes well, expect a lot more AI tickers to follow. If it stumbles, though, this summer’s IPO gold rush could cool quickly.
Together with ButcherBox
Get A Better Grill On With ButcherBox
A great summer BBQ starts before your meat hits the grill — it starts with the meat itself. The higher the quality, the better the bite.
So, ButcherBox makes it easy by delivering high-quality meat straight to your door.
Here’s what you get in every box:
Meat and seafood sourced from farms and fisheries that meet high standards — so you can feel confident you’re getting quality every time.
100% grass-fed beef, wild-caught seafood, and protein raised with no added hormones or antibiotics.
Free delivery, so more of your hard-earned money goes toward premium protein and the convenience of having it delivered right to your doorstep.
Whether you’re cooking for the family, making a quick solo dinner, or stocking your freezer, ButcherBox helps make every summer meal one to remember.
PARTNERSHIPS | COMMUNITY | PODCAST | FRIENDS
Today’s email was written by Nick Comney and Kait Cunniff.
Edited by Nick Comney. Polled and Copy-edited by Kait Cunniff.
Published by Darline Salazar.