Oura Pauses IPO As Anthropic Reveals AI Costs
Smart ring manufacturer Oura has delayed its initial public offering due to market uncertainty, while details regarding Anthropic's upcoming public debut and massive financial figures emerged from its leaked prospectus.
Oura, the manufacturer of smart rings, had initially scheduled the pricing of its initial public offering for Tuesday. However, the firm revealed it is delaying the IPO, pointing to “market uncertainty.”
In contrast, Reuters unveiled insights from artificial intelligence powerhouse Anthropic’s IPO prospectus on Monday, providing prospective investors with a look at its financial standing.
Oura had intended to issue 50 million shares priced between $40 and $44 each, with trading anticipated to kick off on Wednesday. Reaching the peak of that price bracket would have generated $2.2 billion through the offering. The business stated that the postponement occurs despite robust investor interest, and a rescheduled date has not yet been determined. Chief Executive Officer Tom Hale remarked that Oura maintains “the luxury of choosing our moment.”
Anthropic continues progressing toward an initial public offering, although its exact timeline stays uncertain. A prospectus leaked via Reuters revealed that revenue surged by twelve times to approach $4.6 billion throughout 2025, accompanied by an operating loss totaling $8.06 billion. Its massive net loss of nearly $42 billion featured approximately $34 billion in accounting charges primarily linked to previous funding rounds.
The paperwork likewise detailed a massive $518 billion in upcoming commitments for cloud services, computing power, and infrastructure. Reuters has indicated that a public listing will likely take place following the November midterm elections.
As the leading venture-backed startup globally by valuation, Anthropic has signaled its intention to outpace competitor OpenAI in reaching public markets. Based on a recent Wall Street Journal report, the organization might launch as soon as October, securing as much as $100 billion through the stock offering. Meanwhile, Reuters notes that OpenAI submitted confidential filings in June and now aims for an early 2027 timeframe.
(In the meantime, predictive analytics tools from Crunchbase suggest a somewhat extended schedule for Anthropic’s public debut, indicating it is more probable within a six- to twelve-month window.)
Who’s next
Thus far, the 2026 IPO cohort boasts a historic main attraction in SpaceX.
Additional contenders remain in play. Nscale, an AI cloud platform backed by Nvidia, submitted a public filing this month for a listing in the United States, disclosing $140.6 million in revenue for the initial half of the year alongside a net loss of $1.02 billion. The Fidelis Partnership, a specialty insurance underwriting firm supported by Blackstone, submitted its paperwork on September 24.
Neither enterprise has disclosed a specific date for public trading.
Switch, a data center provider, serves as another potential candidate for the final quarter. Reuters shared in July that the company engaged financial institutions regarding an IPO that might amass up to $10 billion, though scheduling remains fluid.
Related Crunchbase query:
Related reading:
- IPOs Are Holding Up In 2026, But SaaS Debuts Aren’t Happening
- The IPO Window Is Closing. Here Are 8 Startups To Watch.
Illustration: Dom Guzman
Frequently Asked Questions
01Why did Oura postpone its IPO?
Oura delayed its initial public offering due to market uncertainty, despite reporting strong demand from investors.
02How much revenue did Anthropic generate in 2025 according to its prospectus?
Anthropic’s revenue climbed twelvefold to nearly $4.6 billion in 2025, alongside an operating loss of $8.06 billion and a net loss of nearly $42 billion.
03What other companies are eyeing an IPO in 2026?
Other potential entrants include SpaceX, Nvidia-backed Nscale, Blackstone-backed The Fidelis Partnership, and data center operator Switch.
