Anthropic Files for IPO with Potential $2 Trillion Valuation Amid Market Skepticism

Anthropic, the AI company known for its Claude model family, has confidentially filed its S-1 paperwork with the U.S. Securities and Exchange Commission (SEC) as of June 1, 2026. The anticipated valuation could reach up to $2 trillion, positioning it as one of the largest public offerings in history, surpassing SpaceX's valuation of approximately $1.8 trillion.

The public prospectus is expected to be released in late September 2026, with IPO marketing efforts slated to begin by mid-October. A consortium of major Wall Street banks, including Morgan Stanley, Goldman Sachs, JPMorgan, and Citi, is involved in the deal.

In May 2026, Anthropic completed a $65 billion Series H funding round, raising its post-money valuation to around $965 billion. The company's revenue run rate was approximately $47 billion, with Q2 projections exceeding $10.9 billion. Investor forecasts suggest annual revenue could reach between $100 billion and $120 billion for 2026, potentially scaling to $190 billion to $200 billion by 2028.

As part of its IPO preparations, Anthropic is also securing a $15 billion revolving credit facility. The offering may include insider share sales and extended lockup periods, with a possibility of supervoting shares to maintain leadership control post-IPO. CEO Dario Amodei reportedly holds about 2% of the company.

Despite the ambitious valuation, skepticism remains regarding whether Anthropic's market cap will exceed $1.25 trillion on IPO day. Concerns have been raised about the company's public benefit corporation status and the overall market conditions, which could impact investor confidence.

As Anthropic moves forward, its filing is reportedly prompting other companies in the AI sector, including direct competitor OpenAI, to reconsider their IPO timelines, indicating a competitive landscape as firms aim to secure favorable valuations.