Anthropic Finally Repairs Trump Administration Ties as IPO Spotlight Grows

Commerce Secretary Howard Lutnick said the Trump administration now trusts Anthropic. His words end months of conflict with the maker of Claude. The artificial intelligence (AI) firm could go public soon.

Lutnick spoke to Axios on Tuesday. A day later, he shared a stage with Anthropic co-founder Tom Brown. The venue was a G20 technology meeting in North Carolina.

What Ended the Anthropic Feud With Washington

Asked in an interview whether he trusts Anthropic CEO Dario Amodei, Lutnick did not hedge.

“They’ve done what we asked. They’re back on the right side. So the answer is: Yes.”

The fight was real, seeing as in June, Commerce demanded licenses for foreign users of Anthropic’s strongest models. The company pulled Claude Fable 5 and Mythos 5 for everyone instead.

Regulators lifted the export restrictions on June 30. Access returned the next day. Weeks earlier, Trump had called Anthropic a threat to national security.

The courts moved too, and on August 28, US District Judge Rita Lin voided the Pentagon’s supply-chain risk label, calling the measures illegal and baseless. A second Pentagon designation is still live in the D.C. Circuit.

The Numbers Behind the Political Risk

Court filings show what the feud threatened. Chief Financial Officer Krishna Rao said the Pentagon label could cut 2026 revenue by multiple billions of dollars.

Public sector head Thiyagu Ramasamy put more than $150 million of recurring revenue at immediate risk. He projected public sector revenue above $500 million for 2026.

Anthropic’s revenue run rate reached $65 billion in August, Bloomberg reported. Government work is therefore worth well under 1% of the total.

So the damage was never mainly financial. It was the story. No company can sell itself as core infrastructure while Washington can switch it off.

“One question is in what ways besides supply chain risk the Trump admin could try to undermine Anthropic if this feud continues Some possibilities: Interfering with mergers, an IPO, other securities law stuff Denying federal permits for data centers,” one user said in February.

Anthropic filed confidentially in June. BeInCrypto reported in August that it could list as soon as late September or early October. Backers told the Financial Times they expect $2 trillion or more, though executives have fixed no target.

SpaceX set the bar in June with an $85.7 billion raise. Anthropic wants to beat that record haul.

Lutnick has cleared the political overhang. Investors must still decide whether Claude is worth double the $965 billion it fetched in May.

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