Anthropic plans to disclose its third-quarter financials for the first time at a meeting with potential investors on Wednesday as the artificial intelligence giant prepares for what could be the largest initial public offering in history.

San Francisco-based Anthropic will release the numbers to a group of institutional investors, according to two people familiar with the matter, who asked not to be named because the details were confidential.

first reported that the meeting was happening. Anthropic declined to comment. The meeting comes as revenue numbers from the private AI giants have proven to have an outsized impact on broader markets. Last week, confusion around a report detailing OpenAI 's revenue and updated accounting dragged down major semiconductor stocks and the broader Nasdaq. OpenAI shared an updated revenue number of $50 billion with current investors as part of an ongoing fundraise which was lower than the $70 billion that had been widely reported.

The updated number stripped out revenue from cloud partners, and wasn't an indication of changing demand, according to a person familiar with the matter who asked not to be named in order to discuss internal information. It's unclear if Anthropic will account for sales in the same manner and include partner revenue, but the numbers this week will give investors a more accurate snapshot of Anthropic's growth and profitability as they look to value the company ahead of an IPO.

It will also help Anthropic senior executives and bankers gauge investor interest and weigh the reaction to these updated financials. AI's quiet safety gatekeepers are stepping into the spotlight Microsoft's Nadella says AI needs an 'emergency brake' that humans control Nvidia GPUs are everywhere. Here are the ways companies are accessing them Hollywood takes on Zuckerberg, Musk and Altman amid widespread anxiety over AI Anthropic is plowing ahead with what could be a $2 trillion listing based on its latest reported revenue numbers, which could top $100 billion by the end of this year, according to people familiar with the plans. That valuation would put it ahead of SpaceX 's historic debut.

Anthropic filed confidentially with the Securities and Exchange Commission earlier this year but has not made its S-1 financials public. The company will list in November, according to Reuters, but people familiar with the plans could not confirm a listing date. If it does go ahead, Anthropic will also be listing at a time when climbing interest rates are shaking parts of the AI trade.

Comments from Broadcom CEO Hock Tan this week further rattled AI names. Tan said at a conference on Monday that with rates climbing, access to capital could be the biggest constraint on AI companies. Chip stocks were lower Tuesday, extending an overnight sell-off sparked by worries over the durability of AI financing. Market conditions are one of the biggest factors in Anthropic's upcoming IPO, and bankers are closely watching investor appetite for growth and AI stocks.