Investors Estimate Anthropic Valuation to Reach US$2 Trillion if IPO in October

Illustration of Anthropic. Investors estimate that the valuation of the AI company could reach 2 trillion US dollars if it goes public on the exchange in October. Illustration photo: Unplash.

JAKARTA - Anthropic investor estimates that the artificial intelligence company could reach a valuation of at least US$2 trillion if it listed on the exchange in October. If realized, its value will surpass SpaceX and potentially become the largest initial public offering or IPO in history.

Anadolu Agency quoted Friday, August 14, saying six Anthropic investors told the Financial Times that the company's revenue surge could support a valuation more than double its current value.

Investors expect Anthropic's annual revenue rate to reach $100 billion to $120 billion by the end of 2026. The figure is a full-year projection based on the latest revenue performance, not the company's official target.

If the forecast is achieved, Anthropic's revenue rate will increase more than tenfold throughout the year.

"If Anthropic grows 800 percent a year, even at a very low limit, you would expect the company to trade at 30 times earnings," an investor told the Financial Times.

With this calculation, the investor assessed that Anthropic's valuation could even reach US$3 trillion.

However, Anthropic has not set a valuation target for the IPO.

Investors also don't have any truly comparable public AI lab companies in the United States as a benchmark. As such, they look at companies like Palantir and Nebius whose market valuations this year are around 55 times their revenue.

Optimism about Anthropic emerges amid a number of risks.

Two investors who know the company's condition said Anthropic's revenue growth slowed in June. The slowdown came as the US Department of Commerce imposed a temporary ban affecting the company's main models.

Anthropic was also involved in a dispute with the Donald Trump administration and is still undergoing legal proceedings with the US Department of Defense.

Price competition is also a pressure. The Financial Times said the cost of using Anthropic's main model is more than two and a half times that of OpenAI's flagship model. Meanwhile, a number of open-weight AI models from China are available at a much cheaper cost.

Anthropic in June filed documents with the US Securities and Exchange Commission or SEC. The filing puts the company in a quiet period ahead of a possible listing on the exchange.