Anthropic - set for largest IPO in history with rumoured $2 trillion valuation and $100 billion fundraise
Anthropic, the artificial intelligence giant that runs the Claude platform, is set to list on the Nasdaq in November, according to recent reports. The company is apparently targeting a $2 trillion valuation, along with a $100 billion fundraise, figures that would surpass SpaceX's record IPO numbers earlier this year. Anthropic filed a confidential S-1 with the SEC on 1st June and is rumoured to be working with Morgan Stanley, Goldman Sachs, and JPMorgan on the listing.
Valuation goes parabolic
Anthropic’s valuation has soared over the past two years. A Series D funding round in spring 2024 reportedly raised $2.8 billion at a valuation of $18.4 billion. Anthropic's Series E funding round in March 2025 raised $3.5 billion and valued the company at $61.5 billion post-money. The Series F, with $13 billion raised, valued Anthropic at $183 billion post-money in September 2025. Then a $30 billion Series G round led by GIC and Coatue valued the company at $380 billion post-money in February 2026.
The most recent round, a Series H in May this year, raised $65 billion and was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital. This valued Anthropic at $965 billion post-money, with the rumoured IPO value representing a more than doubling in just a few months.
Clients of Optimo Capital were introduced to the Anthropic Series D round in 2024 at a valuation of $18.4 billion.
Anthropic valuation history. Source: Optimo Capital
Financials soaring too
While Anthropic’s financials aren’t yet public, according to Bloomberg, the company’s second-quarter revenue was c.$11.5 billion, up from just $787 million the year before. Annual run-rate revenue was said by the company to have crossed $47 billion in May this year, with the number thought to have risen to c.$65 billion by the end of July. Market reports suggest that the company has been advised to wait until it can show a strong third-quarter performance before beginning its IPO roadshow.
IPO set to go ahead despite criticism
Anthropic is seemingly undeterred by recent doom-mongering over the potential negative effects of AI. A few weeks ago Anthropic researcher Jacob Coxon resigned publicly, saying on X that “They are racing straight to self-improving superintelligence and gambling with our lives” and “The people building AI earnestly believe that it could kill us all by the end of the decade.” Evan Hubinger, the alignment science lead at Anthropic, added that he estimates there is a greater-than-10% chance of AI-driven human extinction within the decade.
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