Anthropic is preparing for an initial public offering in October with a targeted valuation of $2 trillion or more, according to a Financial Times report. This would surpass SpaceX’s $1.77 trillion IPO in June, setting a new record. The company confidentially filed for the IPO with the Securities and Exchange Commission in June, aiming to capitalize on growing investor interest in AI startups, per fortune.com.
The $2 trillion valuation more than doubles Anthropic’s $965 billion worth from its Series H funding round in May. Bloomberg reported Anthropic is also negotiating to acquire AI startup Decart AI for $6 billion. Despite these moves, Anthropic has yet to turn a profit. The Wall Street Journal noted its second-quarter 2026 revenue more than doubled compared to the previous quarter, but the company still faces challenges in generating sustainable earnings, according to fortune.com.
Anthropic’s valuation would require annual profits between $59 billion and $79 billion to justify its market capitalization based on Nasdaq 100 earnings multiples. This contrasts with its current unprofitable status. Rival AI lab OpenAI filed confidentially for an IPO shortly after Anthropic but is not expected to go public until 2027. The scale of Anthropic’s valuation highlights the high stakes and investor appetite in the AI sector, per fortune.com.
Anthropic’s IPO filing in June and its planned October public debut mark a critical milestone for the AI industry. The company’s valuation target of $2 trillion would set a new benchmark for tech IPOs, exceeding SpaceX’s record. Anthropic’s next financial disclosures will be closely watched to assess its progress toward profitability and revenue growth, according to fortune.com.