Anthropic eyes $1.4 trillion valuation in blockbuster IPO, targets up to $90.4 billion in fundraising

Anthropic, the artificial intelligence company, is preparing to raise up to US$64 billion in its upcoming initial public offering. This would bring the company's total valuation to an estimated US$1.4 trillion, according to a filing with the US Securities and Exchange Commission. The firm plans to sell 825 million shares of Class A common stock at a price estimate between US$70.00 and US$78.00 per share.

The IPO is significant as it serves as a barometer of the ongoing AI spending boom that is boosting the US economy. In addition, the event coincides with the aftermath of the US midterm elections, where Democrats secured control of both chambers of Congress and vowed to curb President Donald Trump's agenda.

The company has been working diligently towards its IPO, aiming to take place the week of November 16. Recently, Anthropic announced the release of updated versions of its AI models, Fable 5.2 and Mythos 5.2, which are claimed to be 30 percent faster than their predecessors.

Revenue for Anthropic skyrocketed to US$17 billion in the third quarter, up from US$1.4 billion a year prior. The company's annualized revenue projection, or run-rate revenue, as of October 31, 2026, is estimated to be around US$81 billion, an increase of US$10 billion compared to September 30. Recent estimates have put Anthropic's valuation at up to US$2 trillion, but the figure has since decreased in line with a decline in AI stock prices on Wall Street.

Various US news outlets, such as The Wall Street Journal and The New York Times, recently estimated the company's valuation to be between US$1.3 trillion and US$1.4 trillion.