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Private investors have been falling over themselves to get a piece of Anthropic, given the AI model maker is growing at a dizzying pace. Multiple investors told TechCrunch that the company\u2019s $65 billion fundraise<\/a> at a $965 billion valuation, announced last week, was greatly oversubscribed. Now, with that private demand still strong, Anthropic has revealed that it\u2019s taking steps towards a public listing by filing confidentially for an IPO<\/a>.<\/p>\n Co-founder Daniela Amodei, speaking at the Bloomberg Tech conference on Thursday, said the decision comes down to capital. \u201cIt\u2019s a really big upfront cost to train the models and to serve inference on them,\u201d she said. \u201cMy guess is that over time, the sort of core set of companies that are working to advance the frontier are just going to need access to capital, and I think the public market is very well suited to that.\u201d<\/p>\n Anthropic has been growing at a breakneck pace. The company announced that annualized revenue crossed $47 billion<\/a> in May, up dramatically from roughly $9 billion<\/a> at the end of 2025. That trajectory faces a real test, though. Companies such as Uber have said that while AI can deliver returns, not all of their AI spending has proven productive, raising the prospect that corporations could begin to rein those budgets and slow growth across the sector.<\/p>\n That isn\u2019t fazing Amodei, who believes businesses are still early in figuring out how to deploy AI effectively.<\/p>\n \u201cThe use cases today, I expect will continue to be the primary driver of efficiency or creativity, whether that\u2019s coding, financial services, legal, [or] health care,\u201d she said. \u201cBut as the business community gets more familiar with the tools, we\u2019re all going to learn together. My hope is that over time it\u2019ll be more incorporated into the day-to-day of how humans do our work, and there will actually be a lot more value realized.\u201d \u00a0<\/p>\n Amodei also addressed why, unlike rivals like OpenAI and Elon Musk\u2019s xAI, Anthropic isn\u2019t building its own data centers to meet the company\u2019s growing compute needs.<\/p>\n \u201cAnthropic\u2019s view has always been wanting to plan for the best outcome but not overextend ourselves such that we\u2019re buying more compute than we could productively use,\u201d she said. \u201cIt\u2019s really hard to predict that perfectly. We would much prefer to be on the side of having a little bit more demand for the product than we\u2019re able to serve than the inverse.\u201d<\/p>\n Last month, the company surprised the AI industry by partnering with xAI for compute capacity, a deal later disclosed in SpaceX\u2019s S-1 filing to cost Anthropic $1.25 billion<\/a> per month.<\/p>\n<\/div>\n When you purchase through links in our articles, we may earn a small commission<\/a>. This doesn\u2019t affect our editorial independence.<\/em><\/p>\n