Anthropic investors reportedly eye a $2T IPO

Anthropic investors are modeling a $2 trillion valuation for a possible IPO as soon as October, according to Financial Times reporting picked up widely on August 13. At that size, it would be the largest public offering in history, surpassing SpaceX’s valuation. The projections rest on revenue growth: Anthropic closed May with an annualized revenue run rate above $47 billion, and investors are now projecting $100 billion to $120 billion by the end of the year, more than tenfold growth in a single year if it holds. One investor told the Financial Times that Anthropic’s roughly 800% annual growth rate justifies a valuation multiple that could clear $3 trillion on some models.

None of this is confirmed by Anthropic. The company has not finalized an IPO valuation target internally, and the numbers circulating are investor projections built ahead of any formal guidance from the company itself, not an official figure.

What it means for you

Read this as a signal about investor sentiment and Anthropic’s growth trajectory, not as settled fact about what’s coming in October, the valuation, the timeline, and even whether an IPO happens this year are all still open. If you’re a customer or partner factoring Anthropic’s financial trajectory into a long-term bet, the revenue growth numbers, if they hold, are the more durable signal than the headline valuation figure, a company growing revenue tenfold in a year behaves differently as a vendor than one chasing a speculative multiple. It’s also worth reading alongside Anthropic’s reported talks to acquire Decart AI for $6 billion the same week: a company preparing for the largest IPO in history is also actively shopping for inference-efficiency technology, which suggests the immediate priority is serving existing demand more cheaply ahead of a public offering, not just growth for its own sake.