Anthropic PBC, an artificial intelligence firm and developer of the Claude large language model, is reportedly aiming to match or surpass the scale of SpaceX’s record-setting initial public offering. People familiar with the matter indicate that preparations for the company’s potential mega-IPO are accelerating, with a public filing possible as soon as the end of this month. This ambitious target reflects the rapid transformation of the tech investment landscape driven by leaders in the artificial intelligence industry.
The five-year-old company previously raised $US65 billion in May, achieving a valuation of $US965 billion, which already places it ahead of rival OpenAI’s $US852 billion valuation in March. While Anthropic saw positive adjusted operating income for the second quarter, it reported a net loss of nearly $US42 billion in 2025, a significant increase from the previous year. However, demand for AI is rapidly growing, evidenced by preliminary second-quarter revenue exceeding $US11.5 billion, a substantial rise from $US787 million in the corresponding 2025 period. The company’s run rate hit $US65 billion by the end of July.
Achieving such a monumental IPO would easily position 2026 to become the best year on record for US IPO volume. Currently, newly listed companies have raised $US160.6 billion through August 19, approaching 2021’s high of $US195.2 billion. Anthropic and its competitors face the very high costs associated with building advanced AI systems, as training frontier models requires immense computing power. The firm is working with Morgan Stanley, Goldman Sachs Group, and JPMorgan Chase & Co on its listing, and is also set to finalise a revolving credit facility above its $US10 billion target. Anthropic is also reportedly considering adopting super-voting shares to ensure greater control for its co-founders, including CEO Dario Amodei.
