Anthropic, the developer of the Claude AI models, is preparing for an IPO with a target valuation exceeding $2 trillion. This goal is more than double the $965 billion valuation the company achieved during a private funding round in May 2026, which raised $65 billion.
The company expects the upcoming IPO to raise approximately $100 billion. Financial reports for 2025 show a net loss of $42 billion, which includes accounting charges, and an operating loss of $8.06 billion. Revenue for the same period reached nearly $4.6 billion.
The prospectus highlights significant risks, including the potential for AI to resist human control, facilitate cyberattacks, or be used for bioterrorism. Dependence on major partners is also a factor, as 47% of 2025 revenue was generated through Amazon and Google cloud marketplaces.
Anthropic was founded in 2021. The company filed its registration confidentially in June 2026, with public details emerging in September. The IPO process is scheduled to commence following the US midterm elections in November 2026.
