TLDR
- Anthropic plans to match or beat SpaceX’s record $75 billion IPO haul
- Investors expect Anthropic could be valued at $2 trillion or more
- The company’s annual recurring revenue has reached $65 billion
- Anthropic is currently spending $1.25 billion per month renting computing space from SpaceX
- Revenue hit roughly $11 billion in Q2 2026, more than double Q1’s $4.8 billion
Anthropic, the AI company behind the Claude model, is planning an IPO that could rival or surpass SpaceX’s record-setting public listing. Bloomberg reported on August 21 that the company is targeting a listing as soon as the end of August 2026.
BREAKING: Anthropic expects to match or surpass the size of SpaceX’s, $SPCX, record setting IPO, per Bloomberg.
SpaceX’s IPO raised a record $86.2 billion, which means Anthropic could raise close to $100 billion.
Anthropic is expected to IPO by the end of 2026.
— The Kobeissi Letter (@KobeissiLetter) August 20, 2026
SpaceX set the bar in June, selling 555,555,555 shares at $135 each to raise $75 billion. Brokers exercised an overallotment option, bringing in another $11 billion. That remains the largest IPO haul on record.
Anthropic wants to clear that bar.
Investors expect the company to be valued at $2 trillion or more. That would more than double its last private valuation of $965 billion, which came after a $65 billion Series H funding round in May 2026.
Anthropic has not confirmed a valuation target and has kept IPO details closely guarded. The company did not respond to requests for comment.
Backers have poured nearly $100 billion into Anthropic just this year. That money has gone toward product development, computing infrastructure, and chip development. The company is building its own AI chips to keep pace with demand for its products.
Racing to Build Infrastructure
One major pressure point is computing costs. Anthropic is currently renting computing space from SpaceX for $1.25 billion per month. The company wants its own AI data centers to reduce that dependency.
AI data centers are expensive to build. A facility requiring one gigawatt of electricity can cost around $50 billion. Anthropic’s rapid growth has made that kind of capital spending a priority.
The company’s annual recurring revenue sits at $65 billion, up from $10 billion in full-year 2025 sales. Revenue in Q2 2026 alone hit approximately $11 billion, more than double the $4.8 billion posted in Q1.
Despite that growth, Anthropic posted a net loss of $42 billion for the full year 2025. Backers expect annualized revenue to reach between $100 billion and $120 billion this year.
Recent investment commitments reflect that confidence. AMD pledged $5 billion to Anthropic and granted access to 2 gigawatts of its latest chips. Amazon announced plans to invest $25 billion, and Anthropic pledged to spend around $100 billion on Amazon’s cloud services in return.
Competing for Enterprise and Users
Anthropic has been gaining ground in the enterprise sector. A March 2026 analysis found the company was capturing more than 73% of first-time enterprise AI customers, compared to about 26% for OpenAI.
On the consumer side, Claude had around 245 million monthly global users as of June 2026, according to Statista. OpenAI’s ChatGPT reached 1 billion users in May.
OpenAI is also planning to go public, setting up a closely watched race between the two largest AI companies in the US.
Anthropic’s IPO, if it proceeds as reported, would mark a major moment for the AI industry and for public markets.
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