In May 2026, Anthropic successfully raised $65 billion at a valuation of $965 billion, and just 4 months later, that target figure has doubled. According to Reuters, Anthropic is in talks to raise up to $100 billion in its upcoming IPO, at a valuation of around $2,000 billion. If successful, this would be the largest IPO in tech history, far surpassing Saudi Aramco’s record of $25.6 billion in 2019.
A key partner in this deal is Nvidia. The chipmaker is considering investing up to $10 billion as an anchor investor. The relationship between the two sides is deeply symbiotic: Anthropic is one of the largest customers for Nvidia’s GPUs, and Nvidia needs customers like Anthropic to prove that demand for AI is still growing.
The IPO is expected to be completed before the U.S. midterm elections in November. The figure that makes this deal particularly impressive is the rate of revenue growth. Anthropic’s annualized run-rate revenue surpassed $65 billion in late July, just months after reaching the $40 billion mark. Claude, Anthropic’s flagship product, is being widely used across both enterprises and individual users.
Anthropic is not the only AI company preparing for an IPO, but they are the first to reach a trillion-dollar scale. OpenAI remains a private company valued at around $500 billion, while Google and Microsoft have long been public corporations. If the IPO succeeds, Anthropic will become the world’s largest publicly traded AI company by valuation.
The deal also reflects a broader trend: the market is valuing AI at unprecedented levels, driven by expectations that revenue will continue to grow exponentially. The question is whether a valuation of $2,000 billion is sustainable as competition intensifies, or if this marks the peak of another hype cycle.