Key facts
- Anthropic plans to launch its initial public offering in mid-October.
- The IPO could value the artificial intelligence company at up to $2 trillion.
- The company's governance structure is unique, with a Long-Term Benefit Trust (LTBT) controlling the majority of its board.
- The LTBT aims to ensure AI development benefits humanity while balancing commercial pressures.
- The IPO prospectus is now expected to be public in late September, with the offering to occur before the November U.S. midterm elections.
Anthropic is preparing for an initial public offering, potentially in mid-October, which could value the artificial intelligence company at up to $2 trillion. The company's unique governance structure, overseen by a Long-Term Benefit Trust (LTBT), will be under scrutiny. The LTBT, comprising external advisers, controls the majority of Anthropic's board and is tasked with ensuring AI development benefits humanity while navigating commercial pressures. The trust has the power to appoint or dismiss the majority of the company's seven directors. Current trustees include Netflix co-founder Reed Hastings and former Federal Reserve chair Ben Bernanke. The IPO prospectus is expected to be made public in late September, with the offering to occur before the U.S. midterm elections in November. Anthropic is also finalizing a $15 billion revolving credit facility. Morgan Stanley, Goldman Sachs, JPMorgan, and Citi are among the banks involved in the IPO.