Anthropic is weighing a November date for a potential $2 trillion IPO as a former researcher warns that leading AI companies are moving too fast.
The Daily Mail reports that Anthropic may push its stock-market listing from October to November, possibly until after the U.S. midterm elections.
The decision remains under consideration, but the stakes are immense. The AI company could seek up to $100 billion at a valuation near $2 trillion while its own former researcher warns about the industry’s pace.
Jacob Coxon resigned from Anthropic and warned that the company and OpenAI were moving too quickly toward more powerful artificial intelligence systems. His comments drew more than 100 million views, the Daily Mail reported.
Anthropic also faces hard business pressures. OpenAI recently released its GPT-6 Astra model, while Meta, one of Anthropic’s biggest customers, is considering cutting its use of Anthropic models and building more technology in-house.
Chief executive Dario Amodei has called for the industry to slow the development of increasingly powerful AI models. He has advocated outside evaluations, shared safety rules and cooperation between nations.
Anthropic co-founder Jack Clark has also pushed for common standards and outside scrutiny. He described unexpected behavior from AI systems as “warning shots.”
Those positions create a serious test for the company. Anthropic is asking investors to consider one of the largest potential stock offerings ever while its own leaders call for tighter checks on the technology driving that valuation.
The safety concerns are not limited to abstract predictions. Anthropic reportedly blocked several attempts this year to use its systems for research that could potentially help develop biological weapons.
The company also quietly established a biology laboratory in the San Francisco Bay Area last week. The laboratory will allow Anthropic to conduct physical biology work as the company expands its AI ambitions into science and drug research.
The Daily Mail did not identify the exact research attempts Anthropic blocked. It also did not provide documents showing what Coxon believes could make future systems uncontrollable.
Those missing details matter. Investors and the public cannot judge a warning this serious on reputation alone, especially when the same company stands to raise as much as $100 billion.
Anthropic completed a $65 billion funding round earlier this year, giving it a private valuation of about $965 billion. A potential $2 trillion IPO valuation would more than double that figure.
The company’s annualized revenue passed $65 billion by the end of July, the Daily Mail reported. Annualized revenue estimates what the company would collect over a full year if its current pace continued.
OpenAI posted annualized revenue of more than $40 billion in July. But spending data from Ramp showed that GPT-6 Astra had captured about 13 percent of enterprise AI spending, compared with roughly 8 percent for Anthropic’s Claude Fable.
Anthropic has also secured major deals with Amazon and Google. Yet Meta’s possible retreat shows why a large customer can become a risk when it decides to build competing tools for itself.
That mix of rapid revenue growth, rising competition and heavy computing costs helps explain why November remains only a possible date. Three people familiar with Anthropic’s plans said the company was also considering a new model, according to the Daily Mail.
No formal IPO date, exchange or final fundraising target has been disclosed. The identity of the people familiar with the plans also remains unknown.
President Donald Trump has opposed delaying AI development. He argued that strong American leadership could provide the control needed to keep the technology safe while the United States competes with China.
Trump wrote on Truth Social:
“The only control or “guardrails” that AI needs is a strong and smart (High IQ!) president, and the U.S.A. has that, in spades!”
He also referred to a “sick conspiracy” involving China. The Daily Mail did not provide the date or a direct link to Trump’s post.
Trump’s position puts national strength ahead of an industrywide slowdown. Anthropic’s leaders, by contrast, have asked for common standards and independent reviews as companies produce stronger models.
The conflict is not simply about whether AI carries risk. It concerns who sets the rules, how much companies disclose and whether voluntary promises can keep pace with the money pouring into the industry.
Anthropic had previously been expected to seek a listing as early as October. The company is now considering November and could wait until after the midterm elections, but no final decision has been disclosed.
That distinction matters. Anthropic has not abandoned an IPO, and the available information does not establish that its systems are uncontrollable. The warning comes from a former researcher, while the company’s own executives are calling for stronger safeguards.
Still, a company cannot ask the market to accept a $2 trillion price tag while treating safety questions as a side issue. Investors deserve clear evidence about the risks, the safeguards and the costs before they commit their money.
Innovation needs room to run, but honest markets require honest disclosure. When the sums reach trillions, public accountability cannot wait until after the shares begin trading.