"One of the world's biggest AI startups might be eyeing a massive IPO. According to a new report in the Financial Times, Anthropic has tapped the Palo Alto-based law firm Wilson Sonsini to help the company go public as soon as early next year. The law firm has a deep well of experience shepherding major tech IPOs and has worked with Google, LinkedIn, Lyft, and Square on their public offerings."
"OpenAI recently pivoted away from its roots as a nonprofit to restructure itself as a public benefit corporation in a move that set the stage for a potential future IPO. Though the for-profit part of OpenAI will continue to operate under a nonprofit parent company, the change ushers in a new era for the business of AI - one likely to be more focused on juicing revenue, attracting investment and pleasing shareholders."
Anthropic has engaged Wilson Sonsini to support a potential IPO as early as next year. A planned private funding round would value the company above $300 billion, and early-stage discussions with major investment banks are underway. Anthropic could aim to go public before OpenAI and might seek very large valuations. OpenAI restructured from a nonprofit into a public benefit corporation while keeping its for-profit arm under a nonprofit parent, signaling greater focus on revenue and investors. Anthropic was founded in 2021 by former OpenAI executives and is backed by Amazon and Google. Anthropic emphasizes business-focused AI tools rather than consumer multimedia.
Read at Fast Company
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