Anthropic’s $2trn IPO is priced below what AI stocks already fetch
The number comes from investors, not the company. Six backers told the Financial Times that rising revenue would let the five-year-old lab more than double its valuation in an autumn listing.
At $2 trillion it would eclipse SpaceX, which went public at $1.77 trillion in June.
Anthropic itself has fixed nothing. Several investors said senior executives had not settled on a target, even privately. The models are the investors’ own.
The machinery is moving regardless. Morgan Stanley, Goldman Sachs and JPMorgan are leading the offering, Quartz reported.
Three bulge-bracket banks on a mandate is not a rumour. It is the difference between investors discussing a listing and a listing being built.
The revenue, and the caveat attached to it
Two figures matter. In May the company said its annualised revenue had passed $47bn, which is the last number Anthropic disclosed itself.
Investors now expect that to reach $100bn to $120bn...
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