Anthropic Goes Public: How to Enter the IPO Early, and Why It May Be Attractive

My name is Lukas. I am an investor and an active user of the Fintch platform. Let me be clear right away: I am not a trader and I do not chase candles. I prefer to find interesting market opportunities and hold them calmly. That is why I want to explain why Anthropic's IPO is a deal in which I plan to participate.

When is the IPO expected?

On June 1, 2026, Anthropic, the company behind the Claude AI assistant, filed a confidential draft registration statement with the SEC. The detail matters: Anthropic became the first major AI lab to formally start the path toward public markets, moving ahead of OpenAI by about a week.

The placement is being led by Goldman Sachs, Morgan Stanley and JPMorgan. The indicative listing window is autumn 2026. Under the usual timetable, the company has roughly half a year to move toward listing, so a public debut is expected before the end of the year. The exchange is expected to be Nasdaq or NYSE, while the ticker has not yet been announced.

As for valuation, the company closed a late-May round that valued it at about $965 billion, following a reported $65 billion financing round. That made Anthropic, for the first time, more valuable than OpenAI in private-market terms. Many investment bankers use a debut above $1 trillion as their base case. For context, in March 2025 Anthropic was valued around $61 billion. In a little over a year, the valuation rose roughly 15 times.

Business model and metrics: how much Anthropic earns

The growth figures are rare enough to deserve a closer look.

Annual revenue run-rate grew from about $9-10 billion at the end of 2025 to $47 billion by the end of May 2026, or roughly five times in half a year. If we look further back, from $1 billion at the end of 2024, the growth is more than thirtyfold in a year and a half. No enterprise software business of comparable scale has grown like this before.

Where the money comes from:

• About 80% of revenue comes from enterprise customers, not consumer subscriptions. In April 2026, Anthropic reportedly overtook OpenAI in enterprise AI market share for the first time.
• Its customers include eight of the Fortune 10 companies.
• Claude Code, Anthropic's developer tool, passed $1 billion in annualized revenue less than six months after launch. Estimates suggest that Claude now writes about 4% of all public commits on GitHub.

For me as a long-term investor, one more point matters: the company expects its first profitable quarter in the second quarter of 2026, with about $10.9 billion in revenue and roughly $559 million in operating profit. For an AI lab at this scale, reaching operating profit this early is a strong signal.

The risks I keep in mind

There are no perfect stories in the market, so it is important to be honest about the risks.

Strong revenue comes with an important caveat. Part of Anthropic's revenue is reportedly recognized on a gross basis, meaning it includes the full volume of end-customer cloud spending that passes through partner agreements, rather than only the company's net share. The major unknown for the market is gross margin, which has not yet been publicly tested. That figure will either confirm or challenge the path toward sustainable positive cash flow expected by 2028.

Competition is close by: OpenAI, Google and Meta are all fighting aggressively for enterprise customers. Still, Anthropic's current position is strong, and the multiple expansion in revenue appears real, not just theoretical.

I would also highlight the company's unusual structure. Anthropic is a public benefit corporation with a Long-Term Benefit Trust. In simple terms, mission and safety oversight sit above short-term shareholder pressure. For some investors this is a positive, because it may make risks more controllable. For others it is a negative, because the company may be less focused on maximizing profit at all costs. I personally see it as a plus, but the decision is yours.

My experience in pre-IPO and IPO deals

To make clear that this is not my first day in the market, here are several early deals from 2020-2021:

• Palantir: entered at $10, exited at $26.90, for a 169% gain.
• DigitalOcean: entered at $23.10, exited at $54.57, for a 146% gain.
• Airbnb: entered at $17, exited a year later at $137, for a 128% gain.

And here are my more recent IPO results through Fintch:

Of course, not every deal closes equally well. That is normal for any investor. But early entry into strong listings has formed most of the return, so I approach Anthropic with the same logic.

How to participate through Fintch, and why timing affects the terms

Access to participate in the Anthropic IPO through Fintch is already open. There is an important detail worth understanding in advance, because it directly affects how many shares you may ultimately receive.

The volume the platform can take into the placement is limited, while the number of interested investors is usually higher. That is called oversubscription. To distribute the available room fairly, Fintch considers not only the amount contributed, but also how long the funds stayed in the pool before the IPO.

Points = amount in the pool x number of days in the pool. Your share of the IPO equals your points divided by the total points of all participants.

Consider a simple example. You and another participant contribute the same amount, but you enter on the first day of the window, while the other person enters a month before the IPO, when the window is almost closed. Your funds stay in the pool for 120 days; theirs stay for only 30 days.

With an identical contribution, the early participant receives four times more room in the placement simply because they entered earlier. If there are not enough shares for everyone, the difference is returned in cash. The same logic works for any ticket size, large or small.

Two more details make the terms more convenient:

• While funds wait for the IPO, they do not sit idle: Fintch says they accrue about 5% per year in Fintch tokens.
• If funds are withdrawn from the pool before the placement, accumulated points are lost. The mechanism is designed for investors who enter early and maintain the position.

The conclusion is simple: the earlier you are in the pool, the more attractive your participation terms may become. Personally, I do not want to wait until the last day, because every day in the pool can work toward my allocation.

In short

• Anthropic, the maker of Claude, became the first major AI lab to file for an IPO; a listing is expected in autumn 2026 and valuation could exceed $1 trillion.
• Revenue growth is unusual: run-rate is around $47 billion, up roughly fivefold in half a year, with about 80% from enterprise customers and a first profitable quarter expected.
• Risks are real: gross revenue accounting, high compute costs, regulation and competition.
• Access through Fintch is already open. The earlier funds are in the pool, the more points and potential allocation an investor may receive, plus about 5% annual token yield while waiting.
• Even a smaller ticket can be a way to become a participant in one of the decade's key IPO stories rather than just an observer.