Anthropic could raise around $100bn in a listing as early as October, exceeding SpaceX’s record, with backers modelling a valuation of at least $2tn. The Financial Times reports that senior executives have not set a valuation target even privately.
Anthropic’s listing now has a figure attached to it. Reports put the raise at around $100bn, roughly 17% above the record SpaceX set in June.
The valuation is a different kind of number. The Financial Times reports that backers are modelling at least $2tn, with some investor models reaching $3tn, while senior executives have not set a target even privately.
Private markets have been running ahead of the company for months. TNW reported secondary trades implying a $1.2tn valuation before any of this was public.
What everyone is extrapolating from is the revenue curve. Anthropic made roughly $10bn across the whole of 2025, reached $47bn annualised by May, and $65bn by July.
