Anthropic Eyes $2T October IPO as OpenAI Shelves Listing

Fortune2 min read5 sources

When is the Anthropic IPO and what is the valuation?

Anthropic is targeting a $2 trillion Nasdaq IPO in October 2026, led by Goldman Sachs, Morgan Stanley, and JPMorgan, which would be the largest public stock offering in history.

Key numbers

Target IPO valuation	$2T+107% vs $965B last private round
Revenue run rate (Jul 2026)	$65B ARR+622% since Dec 2025 ($9B)
Q2 2026 revenue	$11.5B+1,361% vs Q2 2025 ($787M)
Expected IPO raise	$60B+would rank top 3 ever
SpaceX IPO (prior record)	$1.78T valuationJun 2026; Anthropic targets ~$220B more

What happened

Anthropic is targeting a $2 trillion Nasdaq IPO in October 2026, led by Goldman Sachs, Morgan Stanley, and JPMorgan, which would be the largest public stock offering in history. The AI safety company — creator of the Claude chatbot — filed a confidential prospectus with U.S. regulators on June 1, just days after closing a $65 billion funding round that last valued it at $965 billion. Revenue has soared to an annualized rate of $65 billion as of July 2026, up from roughly $9 billion at the end of last year — more than seven-fold growth in under eight months. By comparison, rival OpenAI's CEO Sam Altman said yesterday that going public in 2026 would be "ill-advised," pushing its listing to at least 2027.

Why it matters

An Anthropic IPO at $2 trillion would give ordinary investors their first chance to own shares in one of the world's most powerful AI companies, previously only accessible to venture funds and big tech. The deal would rank as the biggest stock offering ever, surpassing SpaceX's $1.78 trillion debut in June 2026. With OpenAI delaying its own listing to 2027, Anthropic becomes the defining AI IPO of this era — under intense scrutiny to justify a valuation higher than every U.S. bank, car company, or retailer.

Who this affects

Marketbullish High impact: Bullish signal for AI sector stocks on listing day.
Companybullish High impact: Anthropic gains public capital and currency for growth.
Competitorsbearish Medium impact: OpenAI faces pressure to accelerate its delayed IPO.
Industrybullish High impact: AI sector gains a precedent-setting public market template.

Anthropic vs OpenAI, SpaceX, Alphabet


Anthropic— (pre-IPO)	$965B private / $2T target	$65B	+1,361%	Oct 2026 (target)
OpenAI— (private)	$852B private	~$40B	—	2027+ (delayed)
SpaceXSPCX:NASDAQ	~$2.2T	—	—	IPO'd Jun 2026
AlphabetGOOGL:NASDAQ	~$4.2T	~$350B	+~12%	Public