Anthropic is AI trade's last big hope for a major IPO this year

Prediction markets on platforms like Kalshi have adjusted expectations for technology sector initial public offerings following a wave of timeline delays. Anthropic has emerged as the last prominent AI startup anticipated to test the public markets before the year concludes. Major competitors, including OpenAI, have opted to postpone their public debuts due to shifting capital market conditions and internal restructuring. The delay highlights the complex valuation environment and heavy capital requirements associated with scaling frontier artificial intelligence models. Wall Street investors are watching closely to see if Anthropic can successfully navigate the current IPO pipeline window.