Anthropic IPO May Outpace SpaceX Record, Filing Expected This Month
SingTao · 2 SOURCESabout 2 hours ago2 MIN
Summary
Anthropic is preparing for a landmark IPO that could surpass SpaceX's record-breaking public offering, according to sources cited by Bloomberg . The AI company, which raised $65 billion in May at a valuation of $965 billion, expects to publicly file IPO documents as early as this month . CFO Krishna Rao has recently conducted investor briefings, though valuation specifics were not discussed .
Key Points
- SpaceX's IPO set a historic benchmark, raising $75 billion initially and $86.2 billion including over-allotment options
- Anthropic achieved adjusted operating profitability in Q2 2025 with revenue exceeding $11.5 billion, up from $787 million year-over-year
- Annualized revenue reached $65 billion by July 2025, though full-year net losses widened to approximately $42 billion from $8.3 billion in 2024
- The company is preparing a revolving credit facility potentially exceeding the original $10 billion target, with banks competing for involvement
- Anthropic is working with Morgan Stanley, Goldman Sachs, and JPMorgan Chase, potentially adding more banks to the IPO syndicate
- CEO Dario Amodei holds approximately 2% equity and the firm may implement super voting shares to maintain control post-listing
- A three-year computing power agreement with SpaceX could be worth hundreds of billions of dollars
Why It Matters
If Anthropic's IPO surpasses SpaceX's record, 2026 would become the largest IPO year in U.S. history, with total proceeds potentially exceeding the 2021 record of $195.2 billion . The offering could also establish a new valuation benchmark for AI companies and signal investor appetite for advanced AI infrastructure at a time when development costs continue to escalate across the sector.
If Anthropic's IPO surpasses SpaceX's record, 2026 would become the largest IPO year in U.S. history, with total proceeds potentially exceeding the 2021 record of $195.2 billion . The offering could also establish a new valuation benchmark for AI companies and signal investor appetite for advanced AI infrastructure at a time when development costs continue to escalate across the sector.