Overview
- Reuters reported Friday that Anthropic is discussing an IPO that could raise as much as $100 billion and target a roughly $2 trillion public valuation, with terms still under negotiation.
- The same reporting says Nvidia is in confidential talks to serve as an anchor investor and is considering an investment of up to $10 billion to back the offering.
- Anthropic filed a confidential draft Form S‑1 with the SEC on June 1 and plans to publish a public prospectus in late September with an institutional roadshow tentatively set for mid‑October.
- The company has said its annualized revenue run rate surged from about $9 billion at the end of 2025 to more than $65 billion by July 2026 and raised $65 billion in May at a reported $965 billion post‑money valuation, but investors want the S‑1 to show compute costs, gross margins and customer concentration.
- If completed at the cited size the IPO would be the largest on record and could reshape capital flows for AI firms by concentrating underwriting, large pre‑IPO credit lines and strategic ties between model builders and chip suppliers.