Anthropic could be worth $2 trillion when it goes public

Anthropic, an AI startup, is expected to go public in October with a valuation of $2 trillion or more, according to investors. This would make it the largest-ever initial public offering, surpassing SpaceX's valuation. Half a dozen of the company's backers confirmed to the Financial Times that Anthropic's rapidly rising revenue would enable it to more than double its current valuation during the planned autumn listing.

If successful, the listing could unlock billions of dollars in gains for the company's early investors, but it would also put public markets to the test amid growing concerns about the AI boom.

Backers attribute the lofty expectations to the strong demand for Anthropic's advanced AI models and tools. According to investors, the company's annualized revenue is expected to reach between $100 billion and $120 billion by the end of 2026. That's over 10 times its current revenue, using Anthropic's preferred measure that infers full-year sales from recent performance.

One investor in the group noted that at the low end, if Anthropic grows at 800 percent a year, it could trade at 30 times revenue, potentially making it a $3 trillion company.

Bloomberg reports that Anthropic is in talks to acquire Decart AI for around $6 billion. Decart develops world models and software designed to lower AI training expenses by improving chip utilization efficiency. If the deal closes, Decart's team would join Anthropic's inference and performance organization.