Anthropic expects to match or top SpaceX’s record IPO size

Anthropic, the developer of the Claude AI, anticipates achieving an IPO size that matches or exceeds SpaceX's record-setting initial public offering, according to sources. The AI company is in the process of filing for its potential mega-IPO, which could take place as early as the end of this month. While the exact valuation of Anthropic's IPO is still under discussion, its projected size reflects the strong investor interest in the artificial intelligence boom.

SpaceX's record-breaking IPO raised $75 billion, eventually rising to $86.2 billion with the overallotment option.

Anthropic's target IPO size aligns with the growing demand for AI investments, as the industry's leaders continue to reshape the tech landscape. In May, Anthropic raised $65 billion at a valuation of $965 billion, surpassing OpenAI's valuation of $852 billion in March when it raised $122 billion. Although Anthropic reported a net loss of nearly $42 billion in 2025, a significant increase from $8.3 billion the previous year, its revenue has been soaring.

In the second quarter, the company reported preliminary revenue of over $11.5 billion, with a projected full-year revenue of $65 billion by the end of July.

The high cost of developing advanced AI systems poses challenges for Anthropic and its competitors. To address this, Anthropic recently agreed to a potential agreement with SpaceX for computing resources worth tens of billions of dollars over the next three years. The company is also finalizing a revolving credit facility to raise more than its $10 billion target, working with Morgan Stanley, Goldman Sachs Group Inc., and JPMorgan Chase & Co. on the IPO. Other banks may join the deal.

Anticipating to make its public debut ahead of OpenAI, which might list in 2027, Anthropic could set the stage for 2026 as the best year on record for US IPO volume. So far, the year has already seen two of the largest-ever listings: South Korean chipmaker SK Hynix Inc. raised $26.5 billion in its first-time sale of American depositary receipts.