A historic event is brewing in the artificial intelligence market. Anthropic, the developer of the leading language model Claude, is preparing for a public offering that could not only make history but also rewrite it. According to my data, the company expects its IPO to be at least on par with SpaceX's record-breaking offering in volume, and possibly even surpass it.
The race for SpaceX's record
As a reminder, in June SpaceX conducted a massive offering, selling 555.56 million shares at $135 each and raising a hefty $75 billion. This allowed Elon Musk's company to achieve a valuation of approximately $1.77 trillion, making it the largest IPO in U.S. history. The company's shares closed at $161 on the first session on Nasdaq, demonstrating a confident start.
Now Anthropic is aiming for comparable figures. To reach such a level, the company will need to sell shares worth tens of billions of dollars. Notably, Anthropic has already adopted one of SpaceX's key models, planning to issue preferred shares with enhanced voting rights for founders. This will ensure control over the company is maintained after going public.
Financial surge and valuation
The key driver of investor interest is the impressive revenue growth. Anthropic's annualized revenue run rate reached $65 billion by July, a significant jump from $47 billion at the start of the year and roughly $10 billion for all of 2025. Such rapid growth has already led to the company being valued at $965 billion in the May investment round, higher than OpenAI's valuation, which stood at $852 billion at the time.
This dynamic development is fueling expectations among some investors, who forecast an offering with a revaluation of up to $2 trillion. Although CFO Krishna Rao has not yet disclosed specific figures, the company has already confidentially filed a prospectus for review with the U.S. Securities and Exchange Commission (SEC). A public listing application could be submitted as early as late August.
Crypto traders are already in the game
It is telling that the crypto community is already actively participating in this story. Over recent months, on synthetic markets, particularly on the PreStocks platform, which issues pre-IPO tokens on the Solana blockchain, opportunities have emerged to profit from expectations around Anthropic. The platform has concentrated 78% of trading volumes in OpenAI and Anthropic tokens out of a turnover of $532.1 million since launch. Although activity has somewhat declined over the last 30 days, amounting to about $15.2 million, a public filing will provide real figures instead of estimates and could become a powerful catalyst.
My analysis: Given the current revenue growth rates and the hype around AI, Anthropic's ambitions look justified. However, it is worth remembering that the market is already pricing in very optimistic scenarios. If the company can get ahead of OpenAI, whose stock market debut is expected only in 2027, this will become a defining moment for the entire technology sector and set a new direction for valuing AI companies in the coming years.