Anthropic Targets $2 Trillion Nasdaq IPO in Mid-November

Bloomberg via Yahoo Finance2 min read7 sources

When is the Anthropic IPO?

Anthropic is targeting a mid-November Nasdaq IPO at about a $2 trillion valuation, raising up to $100 billion, Bloomberg reported on Thursday as it prepares to start marketing the week of Nov. 9.

Key numbers

Target valuation	~$2TInvestors see $1.8T–$2T
Maximum raise	Up to $100Bvs ~$86B SpaceX record
Annualized revenue pace (Jul 2026)	>$65Bper [4]
2025 revenue	$4.6B~12x growth
2025 net loss	~$42B~$34B from accounting charges
Possible Nvidia investment	Up to $10Btalks, not final (per [4])

What happened

Anthropic is targeting a mid-November Nasdaq IPO at about a $2 trillion valuation, raising up to $100 billion, Bloomberg reported on Thursday as it prepares to start marketing the week of Nov. 9. An IPO means a company sells shares to the public for the first time. Anthropic, maker of the Claude AI assistant, hopes to start trading before Thanksgiving on Nov. 26, though plans could still change. Bloomberg earlier reported it chose Nasdaq (per). In 2025 it had about $4.6 billion in sales but lost nearly $42 billion.

Why it matters

Anthropic's IPO would let everyday investors own a piece of one of the world's biggest AI companies for the first time. A $100 billion raise would beat SpaceX's record of about $86 billion from June. At $2 trillion, the price is about 31 times its recent yearly sales pace, which is expensive compared with most companies. That is why many investors are weighing the risks as well as the hype.

Who this affects

Marketmixed High impact: Record IPO tests investor appetite for AI shares.
Companymixed High impact: Anthropic gains huge funding but faces scrutiny of losses.
Competitorsneutral Medium impact: OpenAI said it will not go public this year.
Industrymixed Medium impact: Sets a new benchmark for AI company valuations.

Anthropic vs SpaceX, OpenAI


Anthropic—	~$2T (target)	Up to $100B	>$65B	IPO targeted Nov
SpaceXSPCX:NASDAQ	$1.77T at pricing	~$86B	—	Listed Jun 12
OpenAI—	~$1.4T (target)	$30B+ (private)	~$70B	No IPO in 2026

As of 2026-10-06

How we got here

Jun 12, 2026
SpaceX lists on Nasdaq, raising about $86B in the largest IPO to date.
Sep 13, 2026
Bloomberg reports Anthropic picked Nasdaq for its listing (per).
Sep 30, 2026
OpenAI said to seek private funding at ~$1.4T, with no 2026 IPO (per).
Oct 1, 2026
Bloomberg reports IPO marketing could start the week of Nov. 9, trading before Thanksgiving.