Anthropic, Valued at $2 Trillion... Pursuing IPO Before Thanksgiving

▲ Anthropic, Artificial Intelligence (AI), IPO/AI generated image

Anthropic, the developer of the artificial intelligence (AI) chatbot Claude, is accelerating its initial public offering (IPO) process with the goal of listing before the US Thanksgiving holiday. Market speculation suggests an estimated corporate value of up to $2 trillion, raising the possibility of setting a new record for the largest listing ever.

CoinGafe reported that Anthropic is coordinating its schedule with the goal of listing on Nasdaq before the US Thanksgiving Day on November 26. Anthropic plans to embark on an official investor roadshow as early as the second week of November, commencing full-scale marketing. However, the final listing timing is somewhat fluid due to the US midterm election schedule in early November, regulatory approvals, and market volatility, but a listing within the year is considered highly likely.

Market insiders predict that Anthropic's corporate value in this listing will range from $1.8 trillion to $2 trillion. If this valuation materializes, it is expected to be recorded as a super-large listing, surpassing the record set by previously listed SpaceX. The technological hegemony competition surrounding the generative AI market is expanding fully into the public stock market, beyond just attracting private investment.

Anthropic's rapid growth is also attracting investors' attention. Its revenue in 2025 surged by nearly 12 times year-on-year to approximately $4.6 billion. It is evaluated to be maintaining robust external growth in 2026 as well, with the expanded adoption of enterprise-focused Claude. Furthermore, strategic infrastructure acquisition, such as the recent large-scale computing partnership with SpaceX, is also cited as a positive factor.

Conversely, massive infrastructure expenditures and operating losses are cited as major investment risk factors. As of 2025, Anthropic's operating loss amounted to $8.06 billion, and future contracted cloud and computing costs alone reach hundreds of billions of dollars. The concentration of a significant portion of total revenue on a few key customers is also pointed out as a challenge for portfolio diversification.

Anthropic, which has heralded a record-breaking valuation, is aiming for a stock market debut before Thanksgiving. The market is keenly watching whether it can overcome concerns about large-scale infrastructure deficits and prove a $2 trillion market capitalization, thereby setting a new milestone in AI listing history.

[Article Key Summary]

-Anthropic aims to list before Thanksgiving on November 26, planning to begin its official roadshow as early as mid-November.

-Its estimated corporate value ranges from $1.8 trillion to $2 trillion, making it a super-large listing candidate surpassing SpaceX.

-While revenue surged 12-fold in 2025, rapid growth, operating losses exceeding $8 billion, and infrastructure maintenance costs are cited as major challenges.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*