Anthropic could be the AI trade’s last tentpole IPO in 2026

Anthropic could be the last major AI company to go public in 2026, as more companies delay their stock market launches and a possible shortage of money approaches.

Earlier this year, investors were excited about the possibility of SpaceX, Anthropic, and OpenAI all selling shares to the public one after another. But worries about the markets have led several companies in financial technology and AI-related businesses to rethink their plans to go public this year.

Anthropic has also faced questions. An analyst told CNBC that there were “more questions than answers” about the company's slower revenue growth in September. The startup's lower revised valuation is also putting more pressure on AI stocks.

Meanwhile, Anthropic continues to borrow large amounts of money, but the terms are getting stricter. The Financial Times reported that the company's latest loan from Blackstone is expected to carry an interest rate above 10%.