The countdown to a possible September announcement

Alexander Green, chief investment strategist at The Oxford Club, has set a specific date on his calendar. In his “Secret Backdoor to the REAL #1 Tech IPO of 2026” pitch in The Oxford Communiqué, Green says he expects Anthropic, the AI company behind Claude, to announce its IPO around September 29, 2026 at a San Francisco AI conference. A date that specific is unusual in this kind of presentation, and it is one of the reasons the pitch has drawn so much attention.

The company has filed a confidential S-1 with the Securities and Exchange Commission, which is the standard first step for a private company preparing to go public. A confidential filing lets a company work through the process away from public view and revise the paperwork before it has to disclose financials. The filing itself is a meaningful signal that the process is real, even if the timing is not guaranteed.

What we know about the valuation

The headline number in Green’s pitch is a $2 trillion IPO valuation. That figure would make Anthropic one of the most valuable public companies on earth on day one, and it sits on top of an extraordinary growth curve. Revenue climbed from roughly $1 billion in early 2025 to $11.5 billion in a single quarter, and Bloomberg reported an annualized run-rate of $65 billion by the end of July, up from $47 billion in May. The Wall Street Journal reported an operating profit of $559 million in the most recent quarter, an operating figure rather than GAAP net income.

A $2 trillion target is ambitious, and it matters because it sets the ceiling for what investors in the pre-IPO proxies can realistically expect. For a comparison with how another hot private company has fueled IPO speculation, see our SpaceX IPO explainer, which covers a similar dynamic where enthusiasm ran ahead of any actual filing.

How retail investors get in early

Since Anthropic has no public ticker, the way ordinary investors buy exposure before the IPO is through funds that hold the shares. Green names two. Fundrise Venture, a closed-end fund trading as VCX, lists Anthropic as its largest holding, alongside Databricks and OpenAI, and it trades on any brokerage. The other is Ark Venture, Cathie Wood’s closed-end interval fund under the ticker ARKVX, which holds Anthropic alongside SpaceX and OpenAI.

The mechanics of those two funds differ in ways that matter, and our Anthropic stock explainer walks through them in detail. The short version is that VCX trades at a premium to its net asset value while ARKVX prices at NAV but carries a 2.9 percent annual fee and quarterly redemption limits.

The realistic read

Green’s underlying idea is genuinely interesting: give retail investors liquid access to Anthropic, Databricks, and OpenAI before the public market opens up. The question is whether the price already reflects the enthusiasm. A strong IPO does not automatically translate into a strong return for people who bought the proxy funds at a premium, and the timing around a confidential filing is always subject to change. The best posture is to treat the September date as a possibility worth watching rather than a certainty worth betting the house on.

What the listing could actually look like

A confidential S-1 means the filing exists but the details are not yet public, so any picture of the IPO is an estimate. Green floats a $2 trillion valuation and a possible 10x gain by year’s end, which is the most aggressive claim in the pitch. A $2 trillion debut would require the public market to accept a multiple on a revenue curve that has only just started to show operating profit, and the Wall Street Journal’s $559 million operating figure is an operating number rather than GAAP net income. The gap between an operating profit and clean earnings is where a lot of IPO optimism has been lost before.

Every route in before the ticker

While investors wait for a direct Anthropic symbol, the exposure routes keep multiplying. Beyond the two funds Green names, SK Telecom, trading as SKM, holds a stake bought for about $100 million that may now be worth more than $2 billion. The Destiny Tech100 Fund, trading as DXYZ, and the KraneShares Public-Private AI & Technology ETF, under the ticker AGIX with roughly 2 percent in Anthropic, offer diluted alternatives. Each carries a premium, a fee, or a lockup, which means the pre-IPO phase rewards patience as much as enthusiasm.

Why the date matters but should not own you

A specific date like September 29 concentrates attention, and concentrated attention moves prices before the event even happens. That is how closed-end fund premiums balloon, and it is also how they get ahead of the fundamentals. The sensible approach is to treat the date as a milestone to monitor rather than a deadline to front-run. If the announcement comes, the proxies will reprice quickly, and if it slips, they will reprice the other way. Neither outcome changes the quality of the underlying company, which is the part worth anchoring to.

Ready to see the research? Click here to access Alexander Green’s report.

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