Sources: Anthropic's investors expect it to float at a $2T+ valuation in an October IPO and to hit $100B to $120B in annualized revenue by the end of 2026

Anthropic investors expect the AI start-up to float at a valuation of $2tn or more in October, a dizzying figure that would eclipse SpaceX …

Financial Times 2026-08-13

Context & Ripple Effects

Anthropic’s reported public-market ambitions follow talks for a $30B–$50B private round at up to $950B and earlier discussions in which bankers expected an IPO to raise more than $60B. The new investor expectations sharply extend that valuation and financing trajectory.

A $2T-plus target would also place Anthropic alongside SpaceX’s reported $2T-plus IPO valuation pitch, making the planned listing a test of whether public investors will support private-market pricing for AI leaders.

First-order effects

Anthropic’s investors and prospective IPO underwriters gain a much higher valuation and revenue benchmark against which to structure an October offering.
Anthropic’s reported 43.5% AI-market share lead gives the company a commercial narrative to pair with the annualized-revenue target as it approaches public markets.

Second-order effects

OpenAI and other AI-model providers face a more explicit public-market comparison point: Anthropic’s valuation expectations tie competitive standing to both market share and revenue scale.
A successful offering at the reported terms would give Anthropic a public-market currency for transactions such as its reported Decart AI acquisition talks, while raising pressure on rivals to show comparable growth.

Third-order effects

If investors sustain these pricing levels, AI-model companies may move from private fundraising rounds to mega-cap public listings earlier in their growth cycles, concentrating capital around the commercial leaders.
The parallel $2T-plus expectations for Anthropic and SpaceX point to a broader repricing of capital-intensive technology businesses, where IPO markets become a key venue for validating late-stage private valuations.

The trend: AI infrastructure finance is shifting toward public-market validation of trillion-dollar private valuations, with revenue growth and market leadership serving as the core underwriting case.

Discussion

@harshmadhusudan Harsh Gupta Madhusudan on x
Cramer endorses Anthropic 2T possible valuation and says revenue is enough. No discussion of margins. Interesting.
@discoplomacy Sam on x
Unreal. Anthropic's backers want to see it IPO at a valuation of $2 trillion or more. One told the FT: “If Anthropic is growing 800 per cent a year, you'd think at the incredibly low end they would trade at 30 times [revenue]...that would make them a $3tn company.” [image]
@jimcramer Jim Cramer on x
We will hear all day today that if Anthropic can command $2 trillion than everything is out of hand. It's not fraught, though, if they have the revs
@deepanshusharmx Deepanshu Sharma on x
it's happening! we are witnessing the rise of new giants. Anthropic is the first multi-trillion AI company, $2T in just 6 years. unbelievable.. [image]
@jukan05 Jukan on x
Anthropic's ARR could reach $120 billion by year-end.... [image]
@willblaze Will Blaze on x
Should have worked 3 days in office in 2023
@nmasc_ Natasha Mascarenhas on x
Scoop: Anthropic is in talks to acquire Decart for $6 billion, a rare massive acquisition for the Claude maker & a key development in the race to build more efficient AI infrastructure w/ @Lynnmdoan, @rngould & @shiringhaffary https://www.bloomberg.com/...
@shiringhaffary Shirin Ghaffary on x
NEW: Anthropic is in talks to acquire world-model and inference optimization Israel-based AI startup Decart for $6 billion, per sources w/ @Lynnmdoan @nmasc_ @rngould https://www.bloomberg.com/...
@jaykapoornyc Jay Kapoor on x
Big acquisition before your IPO? That's called putting Decart before de Bourse.
Eze Vidra Eze Vidra on linkedin
Anthropic is reportedly in talks to acquire Israeli AI startup Decart for approximately $6 billion (a 50% premium from its last valuation 3 months ago). …
Natasha Mascarenhas Natasha Mascarenhas on linkedin
SCOOP: Anthropic is in talks to acquire Decart for $6 billion, a rare massive acquisition for the Claude maker & a key development in the race to build more efficient AI infra products. …
@gavinsbaker Gavin Baker on x
$3 trillion for Anthropic in the FT. I feel like I've heard that somewhere else. Although public markets generally struggle to accurately value growth when it is this high. [image]
r/BetterOffline r on reddit
Anthropic in talks for $6-bn acquisition of startup, and why “world models” are BS
@kimmonismus @kimmonismus on x
Holy: Anthropic investors are betting on a $ 2tn+ valuation in an October IPO, the largest stock-market debut ever. wtf: Backers expect annualised revenue to reach $100-120bn by year-end, up more than 10x during 2026. Anthropic was valued at $ 965bn in May after raising nearly $ …
@jessefelder.com Jesse Felder on bluesky
‘Anthropic lacks a publicly listed US peer that would provide a benchmark for its valuation. But companies that are seen as AI beneficiaries, such as data intelligence group Palantir and cloud company Nebius, have traded this year at roughly 55 times revenue.’ www.ft.com/content…

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