Oura Hits Pause On IPO While Anthropic’s Prospectus Reveals The Cost Of Its AI Ambitions

Smart ring manufacturer Oura has decided to postpone its initial public offering, which was scheduled to price on Tuesday, pointing to ongoing market uncertainty.

On Monday, Reuters shared insights from AI leader Anthropic’s IPO prospectus, offering prospective investors a look at the company’s financial standing.

Oura had intended to sell 50 million shares priced between $40 and $44 each, with trading slated to kick off on Wednesday. Reaching the high end of that target would have resulted in a $2.2 billion capital raise. Despite noting strong investor demand, management opted to put the transaction on hold and has not established a revised timeline. Chief Executive Officer Tom Hale remarked that Oura maintains “the luxury of choosing our moment.”

Anthropic continues pressing forward with its public offering plans, though the exact schedule is still undecided. Information from the prospectus unveiled by Reuters indicated that revenue surged twelvefold during 2025 to reach almost $4.6 billion, accompanied by an operating loss of $8.06 billion. The company reported a massive net loss of nearly $42 billion, which factored in about $34 billion of accounting expenses primarily linked to prior funding rounds.

Additionally, the filing revealed massive future financial commitments of $518 billion dedicated to cloud, computing, and infrastructure requirements. According to previous Reuters reporting, the actual market debut is anticipated to take place following the November midterm elections.

As the premier venture-backed startup globally by valuation, Anthropic has signaled its intention to outpace competitor OpenAI in reaching the public markets. Recent reporting from The Wall Street Journal suggests Anthropic could launch as early as October to secure up to $100 billion through the stock sale. Meanwhile, OpenAI—which Reuters indicated submitted a confidential filing in June—is reportedly targeting an early 2027 timeframe instead.

At the same time, predictive analytics from Crunchbase suggest a slightly extended window for Anthropic’s public offering, indicating a timeframe spanning six to twelve months is more probable.

Who’s next

The 2026 IPO roster already features a historic frontrunner in SpaceX.

Additional prospects are also in the pipeline. Nscale, an AI cloud service provider backed by Nvidia, made its public U.S. filing this month, disclosing $140.6 million in revenue for the first half alongside a net loss of $1.02 billion. Furthermore, The Fidelis Partnership, a specialty insurance underwriting firm supported by Blackstone, submitted its paperwork on September 24.

Neither enterprise has confirmed a specific debut date for trading.

Switch, a data center operations firm, represents another potential candidate for the final quarter of the year. A July Reuters report noted the company had engaged financial institutions to prepare for an IPO capable of generating as much as $10 billion, though scheduling details remain fluid.

Related Crunchbase query:

• Global IPOs For Venture-Backed Companies In 2026

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.

?Frequently Asked Questions

01Why did Oura delay its IPO?

Oura postponed its initial public offering, citing market uncertainty, despite what the company described as strong investor demand.

02How much money did Anthropic generate in 2025?

According to its IPO prospectus, Anthropic’s revenue grew twelvefold to nearly $4.6 billion in 2025.

03Which companies are backing Nscale and The Fidelis Partnership?

Nscale is backed by Nvidia, and The Fidelis Partnership is backed by Blackstone.

Illustration: Dom Guzman