Forge Global, "Anthropic Upcoming IPO News" (https://forgeglobal.com/insights/anthropic-upcoming-ipo-news/)

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# Anthropic Upcoming IPO: Claude maker could beat OpenAI in race to go public

![](https://forgeglobal.com/site/assets/files/1963188/forge-anthropic-upcoming-ipo.1400x0.jpg)

By Jake Safane

Updated on December 23, 2025

[Upcoming IPOs](https://forgeglobal.com/insights/upcoming-ipos/)

The war for the large language model (LLM) throne is shifting toward a new public market battlefield. [5](https://forgeglobal.com/insights/anthropic-upcoming-ipo-news/#footnote5)

Anthropic, the Claude chatbot maker, is reportedly gearing up for an IPO that could happen as soon as 2026, according to the Financial Times (FT). [4](https://forgeglobal.com/insights/anthropic-upcoming-ipo-news/#footnote4) That could mean Anthropic leapfrogs its archrival OpenAI, the organization behind ChatGPT. While ChatGPT launched a few months before Claude, [5](https://forgeglobal.com/insights/anthropic-upcoming-ipo-news/#footnote5) Anthropic might end up going public first.

No definitive dates have been set, but Anthropic has reportedly hired the law firm Wilson Sonsini to help prepare for an IPO, and it also has had preliminary talks with investment banks. While a [2026 IPO could be feasible](https://forgeglobal.com/anthropic_ipo/), according to one insider, another told the FT that such a quick timeline is unlikely. [6](https://forgeglobal.com/insights/anthropic-upcoming-ipo-news/#footnote6)

At the same time, Anthropic is also in the midst of a massive funding round that could value the company at $300-$350 billion, with $15 billion already committed to this round from Microsoft and Nvidia. [7](https://forgeglobal.com/insights/anthropic-upcoming-ipo-news/#footnote7)

Meanwhile, [OpenAI](https://forgeglobal.com/openai_stock/) recently completed a corporate restructuring that streamlines the relationship between the non-profit foundation that OpenAI started as and the for-profit arm that is now a public benefit corporation. That could pave the way for an IPO in late 2026 or in 2027, at a valuation of up to $1 trillion, which could be one of the biggest IPOs ever, according to Reuters. [8](https://forgeglobal.com/insights/anthropic-upcoming-ipo-news/#footnote8)

However, shortly after the Reuters report in late October 2025, OpenAI's CFO said at a Wall Street Journal conference that an IPO isn't in the cards right now, as it could distract from the focus on scaling. [9](https://forgeglobal.com/insights/anthropic-upcoming-ipo-news/#footnote9)

As a result, Anthropic may proceed with an IPO ahead of OpenAI, though the timing for both companies rem

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