Money Anthropic

Bloomberg reports Anthropic expects an IPO matching or topping SpaceX's record

Illustration for the Anthropic IPO story

The largest IPO on record may go to a five-year-old AI lab. Bloomberg reported on August 20 that Anthropic expects its offering to match or top SpaceX’s.

The numbers under discussion

The expectation is $75 billion raised at the debut, and $86.2 billion counting the overallotment option.

The company plans to file publicly as soon as the end of August. Morgan Stanley, Goldman Sachs and JPMorgan are working on the deal.

Bloomberg is explicit that the discussions are ongoing and the size could still change, which is the standard caveat on a pre-filing report and worth keeping attached to the headline figure.

How it got here

Anthropic raised $65 billion in May at a $965 billion valuation. That round set the private mark the public offering would be measured against.

It also puts the company ahead of OpenAI in the queue. OpenAI is now looking at a 2027 listing, which would leave Anthropic as the first frontier lab to carry a public share price.

Why the number travels

Private valuations are negotiated between a small number of parties and can hold whatever the last round agreed. A listing produces a price that anyone can disagree with by selling.

That makes this the first genuine market read on a frontier AI lab, and it will not stay contained to one ticker. Chip makers, data center operators and every AI-adjacent stock currently trade partly on assumptions about what these labs are worth. A public print replaces the assumption with a number, and the rest of the sector gets repriced against it in either direction.

Sources

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