Anthropic, the developer of the Claude AI model, is preparing for an initial public offering that could reach a valuation exceeding $2 trillion. The company is currently in a quiet period after filing confidentially with the SEC in June. The offering is tentatively scheduled for October or November.
The company's annualized revenue run-rate grew from approximately $47 billion in May to $65 billion by July. Projections for the end of 2026 estimate a run-rate between $100 billion and $120 billion. At the target valuation, the company would be priced at 17 to 20 times its projected annual revenue.
In May, Anthropic completed a Series H financing round of $65 billion, which valued the business at $965 billion. The current IPO target implies a doubling of that valuation within a few months. Morgan Stanley, Goldman Sachs, and JPMorgan are leading the offering process.
The company aims to surpass the record set by SpaceX, which went public in June with a valuation between $1.77 trillion and $1.8 trillion, raising over $85 billion. Anthropic was founded in 2021 by Dario and Daniela Amodei and relies on the growth trajectory of its AI models.
