Anthropic is preparing for what could become one of the largest stock market flotations ever, with the Claude developer reportedly targeting an IPO on a scale comparable to, or potentially larger than, SpaceX.
The company is working through financial projections ahead of a possible public filing by the end of August, while CFO Krishna Rao has been leading discussions with prospective investors.
Anthropic has already lined up Morgan Stanley, Goldman Sachs and JPMorgan to work on the transaction, with Citigroup also expected to join the banking group.
The AI company raised $65 billion in May at a $965 billion post-money valuation, underlining the extraordinary level of investor demand for leading generative AI businesses.
Growth has continued at a rapid pace. Preliminary second-quarter revenue exceeded $11.5 billion, compared with $787 million in the same period a year earlier, while the business reportedly moved into positive adjusted operating income during the quarter.
Anthropic’s eventual valuation will depend heavily on whether investors believe that growth can continue at anything close to its current rate. The company is reportedly projecting $190 billion to $200 billion of revenue by 2028.
A record-breaking flotation would need to rival the scale of SpaceX’s June IPO, which raised more than $85 billion including the overallotment option.
