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

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeInformation TechnologyInvestorAnthropic expects to match SpaceX’s record IPO size or top itThe Claude developer's target reflects how AI is transforming the tech investment landscape in a very short timeAuthor of the article:Bailey Lipschultz and Shirin GhaffaryAnthropic is on track to make its public debut ahead of rival OpenAI, which is now looking at a listing in 2027. Photo by Samyukta Lakshmi/BloombergAnthropic PBC expects to match or beat the size of SpaceX’s record-setting initial public offering, according to people familiar with the matter, as preparations for the artificial intelligence firm’s debut pick up speed.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe Claude developer is running the numbers as it prepares to file publicly for its potential mega-IPO as soon as the end of this month, the people said. Recent investor briefings led by chief financial officer Krishna Rao skirted the question of valuation, they said.Elon Musk’s rocket and satellite firm raised US$75 billion at the outset, making it the biggest first-time share sale ever, data compiled by Bloomberg show. The final figure increased to US$86.2 billion with the so-called overallotment option, which is typically exercised if shares rise in early trading.Canada's best source for investing news, analysis and insight.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Investor will soon be in your inbox.We encountered an issue signing you up. Please try againDiscussions are ongoing and details of Anthropic’s IPO including the size could change, the people said, asking not to be identified as the information isn’t public. A representative for Anthropic couldn’t immediately respond to requests for comment.Anthropic’s target reflects how the AI industry’s leaders are transforming the tech investment landscape in a very short time. The five-year-old company raised US$65 billion in May at a US$965 billion valuation, surpassing rival OpenAI’s valuation of US$852 billion in March when the ChatGPT maker raised US$122 billion.Though Anthropic saw positive adjusted operating income for the second quarter, it had a net loss of almost US$42 billion in 2025, a roughly five-fold increase from about US$8.3 billion the year before, according to documents seen by Bloomberg News.Demand for AI has been growing at speed, as a sharp increase in Anthropic’s revenue shows. The company saw preliminary second quarter revenue of more than US$11.5 billion, compared to US$787 million in the corresponding period in 2025, and its run rate, a metric that projects full-year revenue from a shorter period, hit US$65 billion by the end of July, Bloomberg News reported.Very High CostAnthropic and its rivals are grappling with the very high cost of building more advanced AI systems, some of the people said. Training so-called frontier models requires huge amounts of computing power — in just one of its agreements with data center owners, Anthropic agreed to a deal with SpaceX for computing resources that could be worth tens of billions of dollars over the next three years.Anthropic is on track to make its public debut ahead of OpenAI, which is now looking at a listing in 2027, Bloomberg News reported. Both companies have filed confidentially for their respective listings.Ahead of its public filing, Anthropic is set to finalize a revolving credit facility that will raise more than its roughly US$10 billion target, people familiar with the matter have said.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Anthropic is working with Morgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co. on the IPO, and other banks could be added, Bloomberg News has reported. Dario Amodei, co-founder and chief executive officer of Anthropic, during the company’s Builder Summit in Bengaluru, India, on Monday, Feb. 16, 2026.Anthropic is considering adopting so-called super-voting shares that would give chief executive Dario Amodei, who owns about a two per cent stake, and his fellow co-founders greater control over the company, a person familiar with the matter said. The Information was first to report the super-voting stock.A first-time share sale topping SpaceX would easily power 2026 to become the best year on record for United States IPO volume, data compiled by Bloomberg show. Newly listed companies have already raised US$160.6 billion through August 19, trailing 2021’s high watermark of US$195.2 billon, the data show.Anthropic’s debut would add to a year that’s already delivered two of the largest-ever listings, with South Korean chipmaker SK Hynix Inc. raising US$26.5 billion in its first-time sale of American depositary receipts.We apologize, but this video has failed to load.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.