Anthropic IPO: Will It Break SpaceX's Record?!

The initial public offering of shares by Anthropic, the leading American artificial intelligence company, could break the record in this field set by SpaceX. Since June, SpaceX’s IPO, owned by Elon Musk, has been the largest stock listing in history, raising approximately $85.7 billion, with the company valued at around $1.77 trillion. Bloomberg reported that Anthropic expects its valuation to “match or exceed” this figure, and the New York Times reported on Friday that parties involved in Anthropic’s IPO informed investors that proceeds could surpass $100 billion, potentially raising the company’s value to around $2 trillion.

A valuation of this magnitude, double the $965 billion reached after its last funding round in May, would elevate the five-year-old company to the level of tech giants that have been around for decades, such as Nvidia, Apple, and Microsoft. Following a confidential filing of financial documents in June, the company may publish these documents and reveal its financial data for the first time “in the coming weeks,” before a likely stock market listing in the fall.

By doing so, Anthropic would overtake OpenAI, the developer of ChatGPT, which filed confidential securities documents a week later and plans to list its shares in 2027. Founded in 2021 in San Francisco by employees who left OpenAI and joined Dario Amodei and his sister Daniela, Anthropic has carved out a significant path in the AI sector. In the second quarter, its sales more than doubled to $11.6 billion, surpassing competitor OpenAI’s sales ($6.7 billion) for the first time.

However, like OpenAI, the group continues to incur substantial losses, reaching approximately $42 billion in 2025, due to massive investments required to attract talent and build large data centers housing millions of AI chips. Anthropic’s pricing, the highest in the AI market, faces pressure from cheaper, open-access Chinese models. Indicating an escalating price war, OpenAI announced on Friday a reduction of more than 20% in the rates for its most powerful models over the next three months.