Anthropic Starts IPO Roadshow After September $3.4B Generator Commitment.

As Anthropic begins its IPO roadshow, details have emerged of a roughly $3.4 billion commitment made in September to secure 1.7 gigawatts of gas-fired generator capacity.

The company is targeting a Nasdaq listing during the week of Nov. 16, with the proposed ticker ANT. Its valuation and fundraising ambitions may be reduced, but the IPO filing has not disclosed a price range, share count or proceeds target.

The power commitment covers production slots for Caterpillar heavy-duty generators held by OnePWR Solutions, a San Antonio supplier, plus engineering and construction work. The 1.7 GW describes generator capacity reserved for future delivery, not electricity already supplied. Anthropic is not buying OnePWR or taking on its employees, so the deal reserves delivery capacity without transferring the supplier’s business.

The arrangement responds to data center energy constraints: grid connections can take years, making on-site gas generation an option for AI infrastructure.