Oura has postponed its initial public offering, shelving plans to price shares on Tuesday and begin trading Wednesday. The smart ring maker attributed the delay to market uncertainty. The company had intended to offer 50 million shares priced between $40 and $44 each, a range that at its top would have raised $2.2 billion. Oura said demand for the deal was strong and has not scheduled a new date. CEO Tom Hale said the company has the luxury of choosing its moment.

The postponement comes as Reuters reported details from the IPO prospectus of Anthropic, the AI developer. The document showed Anthropic's revenue reached nearly $4.6 billion in 2025, a twelvefold increase, alongside an operating loss of $8.06 billion. Its net loss came to almost $42 billion, a figure that included roughly $34 billion in accounting charges tied largely to earlier financing. The prospectus also listed $518 billion in future obligations for cloud, computing and infrastructure.

Anthropic is continuing to work toward a public listing, though the timing has not been settled. Reuters has reported that a debut is likely to occur after the November midterm elections. Anthropic, the most valuable venture-backed startup, has signaled it intends to reach the public markets before rival OpenAI. The Wall Street Journal has reported the company could list as soon as October and raise up to $100 billion. OpenAI, which Reuters says filed confidentially in June, is reportedly now aiming for early 2027, while Crunchbase's predictive intelligence tools put an Anthropic IPO more likely in six to 12 months.

The 2026 IPO class already has a record-setting headliner in SpaceX. Other candidates are in the pipeline. Nvidia-backed AI cloud provider Nscale filed publicly this month for a U.S. listing, reporting $140.6 million in first-half revenue and a $1.02 billion net loss. The Fidelis Partnership, a Blackstone-backed specialty insurance underwriter, filed on Sept. 24.

Data center operator Switch could also enter the market in the fourth quarter. Reuters reported in July that Switch had hired banks for an IPO that could raise as much as $10 billion. The timing of that offering remains subject to change.

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