Anthropic to Publicly File for Record $2 Trillion Valuation IPO This Friday
Anthropic plans to publicly file its IPO application as early as this Friday, aiming for a record-breaking offering that surpasses SpaceX. Despite an H1 net loss exceeding $80 billion, the company reported strong Q3 revenue growth and adjusted profitability, positioning its listing as a critical litmus test for investor appetite in the AI sector.
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Anthropic’s IPO plans are drawing significant attention, with the offering expected to exceed SpaceX’s June IPO this year. As investor concerns over massive spending in the AI sector intensify, the market widely views Anthropic’s listing as a critical test of how much appetite remains for the AI boom.
In June, Anthropic confidentially filed a draft IPO application with the U.S. Securities and Exchange Commission (SEC). Under regulations, companies utilizing the confidential filing process must publicly disclose their application documents at least 15 calendar days before the official investor roadshow begins.
If the prospectus is successfully made public, Anthropic will move closer to a November listing, though the final issuance date remains subject to market conditions and other factors. At that point, retail investors will gain their first look at the company’s specific financial data and potential risks.
Anthropic has invested billions of dollars in building AI infrastructure to support the training and operation of its Claude model series. Beyond partnerships with Google and Amazon, the company also rents GPU compute capacity from SpaceX’s Colossus 1 data center.
In the first half of this year, Anthropic reported revenue of $16.3 billion (approx. RMB 109.036 billion at current exchange rates), with net losses exceeding $80 billion (approx. RMB 535.146 billion). Wall Street estimates suggest Anthropic could raise up to $100 billion (approx. RMB 668.933 billion) through its IPO, implying a valuation as high as $2 trillion (approx. RMB 13.38 trillion).
Additional reports indicate that last week, Anthropic informed investors at its San Francisco office that third-quarter revenue reached $16.8 billion (approx. RMB 112.381 billion), surpassing second-quarter revenue of $11.5 billion (approx. RMB 76.927 billion). On an adjusted basis, the company also achieved profitability.
According to a source familiar with the matter, given the sheer scale of Anthropic’s planned listing, the timing of its IPO launch will significantly impact other companies preparing to go public in the coming weeks.
Competitor OpenAI, which originally planned to launch its IPO this year, now expects to list in early 2027.