Anthropic may let employees and early investors cash out some shares during the IPO itself, while forcing them to wait longer than normal to sell the rest.

• The Information.

That gives insiders liquidity without suddenly flooding the market with shares after listing, which could help Anthropic control volatility. SpaceX and Cerebras did not let existing shareholders sell in their IPOs, so Anthropic is considering a noticeably different approach for what could be one of the largest IPOs ever.