Anthropic’s Potential Mega-IPO Joins the World’s Biggest Listings

Anthropic’s newly unveiled U.S. IPO filing puts the Claude maker closer to a public debut that Reuters says could be one of the largest ever attempted. The company is reported to be seeking as much as $100 billion, although the filing does not establish a final offering size, price or valuation.

How the potential deal compares

Reuters’ comparison starts with SpaceX, which made its Nasdaq debut in June with a record $75 billion listing. That offering eclipsed Saudi Aramco’s 2019 IPO to become the largest IPO ever, according to the report. SpaceX’s proceeds were more than double Saudi Aramco’s record-setting deal.

Anthropic’s potential raise would therefore be larger than the $75 billion SpaceX figure if the company reaches the reported $100 billion target. That is a comparison of potential proceeds, not a confirmed ranking: Anthropic has not set the number of shares, the price range or the final amount it will raise.

Anthropic’s scale before pricing

Some current and prospective investors are valuing Anthropic at about $1.5 trillion, down from roughly $2 trillion that investors had previously expected after the company disclosed financial details at a recent investor event. Reuters also reported that Anthropic raised $65 billion at a $965 billion post-money valuation in late May.

The company had confidentially filed for a U.S. IPO in June, and its marketing timetable had already moved from earlier plans for a mid-October start at the earliest. The October filing brings the process into public view, but it does not turn those reported expectations into offering terms.

OpenAI adds a second comparison

OpenAI also revealed in June that it had confidentially filed for a U.S. IPO, but Chief Executive Sam Altman said in September that the company would not go public in 2026. Reuters reported that OpenAI was racing to secure investor commitments before Anthropic’s expected mid-November debut, in a fundraising effort that could value it at more than $1.4 trillion.

That leaves a clear but still developing sequence: SpaceX has already set the reported record with a $75 billion IPO, Anthropic is preparing a potentially larger offering, and OpenAI is seeking financing while saying its own listing will not happen this year. The eventual order will depend on final terms and completed deals, not preliminary targets.

Sources

• Reuters: Elon Musk’s SpaceX kicks off mega IPO wave with $75 billion haul