Anthropic is expected to begin marketing its initial public offering in mid-October at the earliest and complete the listing days before the U.S. midterm elections in November, people familiar with the matter said on Friday.

The artificial intelligence company had been expected to make its IPO prospectus public as early as next week, two ⁠of ​the people said, a crucial step that would kick off the final stages of the offering. Now that is not expected until late September, the people added, cautioning that the plans, including the timing, are subject to change.

The ​shift ​pushes back what some investors have said ⁠could be a $2 trillion listing, one of the largest IPOs ever attempted and a major test of public-market appetite ‌for the rapidly growing artificial intelligence industry.

Companies frequently adjust their IPO schedules as they work through market conditions, regulatory reviews and other preparations, so such changes are not unusual.

As part of the IPO process, Anthropic is looking to finalize a $15 billion revolving credit facility, after which analysts, including those at banks involved in the financing, are ⁠expected to meet with ⁠the company, one of the people said. Bloomberg News earlier reported that Anthropic was in talks to ⁠expand the facility ‌to $15 billion.

Companies typically leave a few weeks between ​analyst meetings and making the IPO prospectus public, although ‌Anthropic is expected to have a tighter window because analysts already know the company well, the person said.

Anthropic declined to ‌comment.

The offering is ​expected to ​be one ​of the most closely anticipated IPOs ever, as investors look to public markets for exposure to the rapidly growing ​artificial intelligence industry. It could come alongside potential ⁠listings from other AI companies, including OpenAI. Elon Musk’s SpaceX went public in June at a record $1.77 trillion valuation.

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Morgan Stanley, Goldman Sachs, JPMorgan and ‌Citi are ⁠among the banks working with Anthropic on the IPO, according to people familiar with the matter.

The banks declined to ​comment.