Anthropic, the AI company behind the Claude application, is reportedly eyeing an initial public offering (IPO) that could value it at up to 2 trillion USD, according to Reuters sources. This valuation is double the company's own estimate from may. The planned IPO, aiming to raise up to 100 billion USD, is seen as a crucial indicator of investor confidence in the rapidly evolving artificial intelligence sector. The company had confidentially filed for the IPO in early june, though it might be delayed until after the US midterm elections.
According to its prospectus cited by Reuters on 29/9, Anthropic experienced strong growth last year, with revenue increasing twelvefold to 4,6 billion USD. However, the company also reported operating losses exceeding 8 billion USD, resulting in a net loss of 42 billion USD last year. Anthropic plans to invest significantly in its future, allocating 518 billion USD for cloud computing and other infrastructure requirements over the next few years. A potential risk highlighted in the prospectus is customer concentration, with nearly 25% of last year's revenue coming from two customers. The company noted that many large clients do not have long-term contracts, posing a risk of reduced or halted spending. Despite losses, Anthropic maintains robust liquidity, with cash, cash equivalents, and short-term investments totaling nearly 20,3 billion USD as of 31/12/2025.
The prospectus underscores Anthropic's belief that AI will transform the global economy more profoundly than industrialization, electricity, and the internet combined. Founded in 2021 by former OpenAI leaders and researchers, Anthropic launched its first large language model in 3/2023, directly challenging OpenAI. The company also competes in AI infrastructure with xAI (SpaceX), Google (Alphabet), and Meta. This AI startup's annual revenue is estimated to exceed 30 billion USD, establishing it as a benchmark for Wall Street's valuation of leading artificial intelligence companies.
The market's reception to high valuations for rapidly growing companies has recently shown signs of caution. In june, Elon Musk's SpaceX conducted the world's largest IPO, raising 75 billion USD and valuing the company at approximately 1,770 billion USD. While SpaceX's stock price initially rose 20% above its IPO, it has since settled to only slightly above its listing price after nearly three months. This trend, coupled with recent sell-offs in AI and chip stocks, could make investors hesitant. Consequently, Anthropic's IPO will be a key test of continued investor enthusiasm for AI, especially amid increasing regulatory scrutiny.
Anthropic is currently OpenAI's primary competitor. OpenAI, the parent company of ChatGPT, also confidentially filed for an IPO in june, with a public listing anticipated early next year.
By Ha Thu (Reuters)
