Anthropic has begun preliminary investor meetings ahead of a potential initial public offering, but the talks have so far remained broad and have not covered detailed financials or a valuation. The company confidentially filed a prospectus with the SEC (U.S. securities regulator) in June and has not set an official IPO timeline. People familiar with the meetings said CFO Krishna Rao is leading discussions focused on Anthropic's Claude AI models, the development of Claude Code, its management team, enterprise-market position and product release cadence. Investor expectations around valuation are running far ahead of what the company itself has discussed. Anthropic closed a funding round in late May at a $965 billion valuation, above OpenAI's $852 billion valuation in late March, and some investors now believe the company could target $2 trillion or more based on their own analysis rather than company guidance. Anthropic said in May that its run-rate revenue reached $47 billion, compared with roughly $10 billion of revenue in all of 2025, underscoring why its IPO is viewed as a potentially landmark listing in the AI sector.