Anthropic targets $2 trillion IPO valuation

Anthropic is reportedly accelerating its plans for an initial public offering (IPO), with some investors projecting a valuation as high as $2 trillion. If this valuation is realized, it would surpass the $1.77 trillion valuation of SpaceX, potentially setting a record for the largest IPO in history.

The company reportedly filed for its IPO confidentially with the U.S. Securities and Exchange Commission (SEC) in June. While Anthropic has maintained silence regarding its specific financials, market data indicates explosive revenue growth. Annualized revenue reportedly surged from $9 billion in early 2025 to approximately $47 billion by May 2026, with some projections suggesting year-end figures could reach between $100 billion and $120 billion.

Anthropic’s growth is driven largely by its focus on the enterprise market, specifically through AI agents, coding tools, and enterprise workflows. Its Claude 3.5 Sonnet and Claude Code products have seen significant adoption, with Claude Code alone reportedly reaching an annualized revenue run rate of over $2.5 billion. The company currently holds a 32% market share in the enterprise large language model API market, surpassing OpenAI’s 25%. Major clients include Amazon, Google, JPMorgan Chase, and Salesforce.