Anthropic is reportedly negotiating with major banks to secure several billion dollars in new credit lines as the artificial intelligence startup prepares for a potential initial public offering (IPO) as early as October. The company is looking to expand its existing $2.5 billion five-year revolving credit facility, obtained from lenders last year, to increase financial flexibility ahead of its public market debut. This strategy mirrors the approach taken by Space Exploration Technologies Corp, which increased its credit facility with IPO bankers roughly a month before its June public offering.

The move to bolster liquidity comes as Anthropic accelerates its IPO preparations, having recently begun high-level meetings with investors. The same banks extending these credit lines often serve as underwriters for the share sale, providing a bridge to the public listing. Anthropic has hired Morgan Stanley, Goldman Sachs Group and JPMorgan Chase to work on the IPO process, with details ongoing and subject to change.

In May, Anthropic surpassed OpenAI to become the world’s most valuable startup after raising $65 billion in a Series H funding round, valuing the company at $965 billion. Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital led the funding round. Meanwhile, rival OpenAI is also targeting a trillion-dollar IPO, though recent reports suggest its public listing could be delayed until 2027.

Key IPO Details

Founded in 2021 by former OpenAI employees, Anthropic has established itself as a key player in artificial intelligence, building tools that reshape how businesses approach coding and cybersecurity. The company recently launched Project Glasswing, a defensive cybersecurity initiative utilizing its advanced "Claude Mythos" AI model, partnering with over 50 organizations including Google, Microsoft and Apple to scan for software vulnerabilities.

Anthropic's Claude has increased its share of global generative AI website traffic to 9.2% in June 2026, rising from 1.6% a year ago, according to data from Similarweb. This represents a gain of nearly 500%, allowing Claude to surpass rivals including Grok, DeepSeek, Microsoft Corp's Copilot, and Perplexity. The rapid growth highlights a shifting landscape in the artificial intelligence sector beyond the top two players.

Market Share Dynamics

The AI traffic market remains dominated by OpenAI's ChatGPT and Alphabet Inc's Google Gemini. ChatGPT held a 52.7% share in June, down from 76.4% a year earlier, while Gemini climbed to 27.8% from 9.1% over the same period. Together, these two platforms account for more than 80% of global generative AI website traffic.

Claude's growth has accelerated recently, with its traffic share nearly doubling over the past three months. It rose from 8.0% in March to 9.2% in June, widening its lead over other competitors in the tier below the market leaders.

Competitive Landscape

The data indicates a concentration of the AI market around three primary players. Below the top two, Claude has established a significant gap over its nearest rivals. The traffic shares for other major AI platforms in June were significantly lower than Claude's 9.2%.

Future Investor Focus

While traffic share provides a snapshot of user engagement, it does not directly equate to revenue or enterprise adoption. Anthropic generates a substantial portion of its business through APIs and enterprise partnerships. The company has secured backing from Amazon.com, Inc. and Alphabet.

Investors are likely to focus on whether Anthropic can convert its growing user base into sustainable competitive advantages via subscriptions and developer adoption. The sustained growth of Claude suggests the AI race is evolving beyond a contest between just two dominant entities.