Given that AI model makers are growing at a dizzying rate, individual investors are falling over themselves to get a piece of Anthropic. Several investors told TechCrunch that the $65 billion round of funding announced last week, valuing the company at $965 billion, was significantly oversubscribed. Now that private demand remains strong, Anthropic says it is taking steps toward a public listing by filing for an IPO privately.
Speaking at the Bloomberg Tech Conference on Thursday, co-founder Daniela Amodei said the decision depends on capital. “There is a really big upfront cost to train the model and provide inference,” she said. “I think over time, the kind of core companies that are trying to advance their frontiers will need access to capital, and I think public markets are very well-suited to that.”
Anthropic has been growing at a tremendous rate. The company reported full-year revenue in May of more than $47 billion, up from about $9 billion at the end of 2025. But that trajectory faces a real test. Companies like Uber have said that while AI can deliver returns, not all AI spending has proven to be productive, raising the prospect that companies could curb their budgets and slow growth across the sector.
This is not surprising to Amodei, who believes that businesses are still in the early days of figuring out how to deploy AI effectively.
“We expect today’s use cases to be key drivers of efficiency or creativity, whether it’s coding, financial services, law, (or) healthcare,” she said. “But as the business community becomes more familiar with the tools, we will all learn together. I hope that over time, these tools will become more integrated into the way humans get things done, so that much more value can actually be realized.”
Amodei also explained why Anthropic, unlike competitors OpenAI and Elon Musk’s xAI, is not building its own data centers to meet the company’s growing computing needs.
“Anthropic’s view is that we always want to plan for the best outcome, but we don’t overextend ourselves to the point where we buy more compute than we can use productively,” she said. “It’s really difficult to predict perfectly. We prefer that there is a little more demand for our products than we can provide, rather than the other way around.”
Last month, the company surprised the AI industry by partnering with xAI for computing capacity. The deal was later revealed in SpaceX’s S-1 filing, costing Anthropic $1.25 billion per month.
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