Anthropic investors target $2 trillion IPO valuation in October

Published Aug 13, 01:22 PM UTC

Investors in Anthropic, the AI company behind the Claude model, expect it to go public in October at a valuation of $2 trillion or more, which would make it the largest IPO in history, surpassing SpaceX's $1.77 trillion valuation in June. Half a dozen backers said annualized revenue is projected between $100 billion and $120 billion by year-end, more than tenfold growth from $47 billion in May. The company last raised capital at a $965 billion post-money valuation. However, challenges include its top model costing over 2.5 times OpenAI's flagship, Chinese open-weight alternatives at lower cost, a temporary U.S. export control imposed in June, and active litigation with the U.S. Department of Defense over a supply-chain risk designation. Customers are also shifting to lower-cost AI options. Morgan Stanley, Goldman Sachs, and JPMorgan are leading the IPO.