Anthropic announced on May 28, 2026 that it will seek a valuation of more than $2 trillion in its U.S. IPO, projecting a 12‑fold revenue rise in 2025.
The prospectus, obtained by Reuters, shows the company’s revenue surged from $1.3 billion in 2024 to $15.6 billion in 2025, a 12‑fold jump that underpins the lofty valuation.
European tech shares rose 2.4 % and the U.S. semiconductor index gained 1.5 % after the filing, as Morningstar’s Michael Field highlighted the speed of Anthropic’s growth as the filing’s most compelling element.
Anthropic plans $518 billion in cloud computing and infrastructure over the next five years, a commitment that XTB research director Kathleen Brooks said signals a sustained investment cycle for AI hardware and data‑center expansion.
The company remains loss‑making, posting a net loss of $2.3 billion in 2025, a fact that Field noted investors have largely digested, while management stresses the long‑term demand will justify the spend.
Roughly 35 % of revenue stems from a handful of enterprise clients, raising concentration risk, said Dan Coatsworth of AJ Bell, who cautioned that such reliance could impact future earnings.
Anthropic will file its S‑1 registration statement with the SEC on June 5 and is expected to price the IPO by mid‑August, setting the stage for a high‑stakes entry into the public markets.