Private investors have been rushing to secure a stake in Anthropic, as the AI model developer experiences explosive growth. With that private demand remaining robust, Anthropic has announced it is moving toward a public listing by filing confidentially for an IPO. Co-founder Daniela Amodei, speaking at the Bloomberg Tech conference on Thursday, explained that the decision is driven by capital needs. “It’s a really big upfront cost to train the models and to serve inference on them,” she said. “My 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.”

Anthropic has been expanding at an extraordinary pace. The company reported that annualized revenue surpassed $47 billion in May, a sharp increase from roughly $9 billion at the end of 2025. However, this trajectory faces a significant challenge. Companies like Uber have noted that while AI can generate returns, not all of their AI spending has proven fruitful, raising concerns that businesses might start tightening those budgets and slowing sector-wide growth. Amodei remains undeterred, believing that organizations are still in the early stages of learning how to leverage AI effectively. “The use cases today, I expect will continue to be the primary driver of efficiency or creativity, whether that’s coding, financial services, legal, [or] health care,” she said. “But as the business community gets more familiar with the tools, we’re all going to learn together. My hope is that over time it’ll be more incorporated into the day-to-day of how humans do our work, and there will actually be a lot more value realized.”

Amodei also addressed why, unlike competitors such as OpenAI and Elon Musk’s xAI, Anthropic is not constructing its own data centers to meet its growing compute requirements. “Anthropic’s view has always been wanting to plan for the best outcome but not overextend ourselves such that we’re buying more compute than we could productively use,” she said. “It’s 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’re able to serve than the inverse.”

Last month, the company surprised the AI industry by partnering with xAI for compute capacity, a deal later disclosed in SpaceX’s S-1 filing to cost Anthropic $1.25 billion per month.