Artificial intelligence company Anthropic is preparing for a major IPO on Nasdaq and aims to raise up to $100 billion. Reuters, citing sources, said such a deal could value the company at $2 trillion or more.
According to the report, Anthropic is in talks with Nvidia Corp. to bring it in as one of the cornerstone investors in the offering. One source told Reuters that Nvidia is considering an investment of as much as $10 billion in the IPO.
Anthropic has chosen Nasdaq for the listing. Its financial performance is helping support those plans: the company told investors that second-quarter revenue rose 14-fold year on year to $11.5 billion. That was enough to deliver adjusted operating profit, and Anthropic expects to remain profitable in the current quarter as well.
By the end of July, Anthropic’s annualized revenue had reached $65 billion, up from $9 billion at the end of last year. FT sources said the company’s gross margin exceeds 80%, excluding revenue shared with distribution partners and the cost of training models.
Sources expect the stock market listing to take place before the U.S. general election scheduled for November. In May, Anthropic raised $65 billion, giving it a post-money valuation of $965 billion.
The report also highlights the competitive backdrop. OpenAI chief executive Sam Altman has said the company will not go public in 2026, although it had previously been expected to pursue an IPO this autumn at a valuation of about $1 trillion.
The market has already seen another massive tech offering this year. In June, Elon Musk’s SpaceX, which also includes AI startup xAI, raised a record $75 billion through an IPO, valuing the company at $1.77 trillion. It later added another $10.7 billion through the exercise of the underwriters’ overallotment option.
