Anthropic IPO: AI Giant Eyes Record $75B+ Debut, Rivaling SpaceX
By Business Desk
AI leader Anthropic is reportedly targeting a massive IPO this month, aiming to surpass SpaceX’s $75 billion record. Explore their financial trajectory and market ambitions.
Anthropic, the AI firm behind Claude, is reportedly gearing up for a public debut this month, aiming to surpass SpaceX’s monumental $75 billion IPO record. This move underscores the intensifying race among frontier AI developers for market dominance and investor capital.
Pre-IPO Financial Snapshot
The five-year-old company has seen significant financial shifts. While achieving positive adjusted operating income in the second quarter, it recorded a substantial net loss in 2025.
- Net loss reached nearly $42 billion in 2025, up from $8.3 billion in 2024.
- Preliminary second-quarter revenue exceeded $11.5 billion, a sharp increase from $787 million in Q2 2025.
- Anthropic projects a run rate of $65 billion by the end of July.
Ahead of its potential public offering, Anthropic recently secured significant private capital. This included a substantial funding round that positioned its valuation above a key competitor.
- Raised $65 billion at a $965 billion valuation, exceeding OpenAI’s.
Strategic IPO Preparations
Anthropic is actively finalizing crucial elements for its market entry. The company is securing a substantial credit facility and engaging top-tier investment banks to manage the process.
- Finalizing a revolving credit facility to raise over $10 billion.
- Collaborating with Morgan Stanley, Goldman Sachs Group Inc., and JPMorgan Chase & Co.
Further strategic considerations involve maintaining founder control post-IPO. The company is exploring mechanisms to ensure its leadership retains influence over its future trajectory.
- Considering super-voting shares for CEO Dario Amodei and other co-founders.
Market Impact and AI Race
The anticipated public debut of Anthropic is set to precede that of OpenAI, which is reportedly targeting a 2027 listing. Both companies have already confidentially filed for their respective market entries.
A successful IPO by Anthropic, particularly one that exceeds the benchmark set by SpaceX, would mark a significant milestone. Such an event would substantially contribute to making 2026 a record year for US IPO volume.