Anthropic could pursue a public listing at a valuation of between $2 trillion and $3 trillion, a figure that would surpass SpaceX’s record-setting IPO milestone, according to a new report citing expectations among some of the company’s investors.
The projected range would place the artificial-intelligence developer well above the roughly $1.7 trillion valuation reached by SpaceX, which recently set a benchmark for the largest technology debut on record. If Anthropic reaches the upper end of investor expectations, it would rank among the most valuable companies ever to go public.
Anthropic, the maker of the Claude family of AI models, has grown rapidly amid intense demand for generative AI tools. The company has raised capital at steadily climbing valuations over the past two years, drawing backing from major technology firms and institutional investors seeking exposure to the sector’s expansion.
The trajectory marks a striking rise for a firm that, in mid-2025, was reported to be weighing a funding round at a $170 billion valuation. A move toward a multitrillion-dollar public offering would represent an order-of-magnitude increase in a matter of months.
The comparison to SpaceX underscores how private technology companies have increasingly commanded valuations once reserved only for established public giants. SpaceX’s record-breaking listing set a reference point that AI companies are now positioned to challenge.
No formal timeline for an Anthropic offering has been confirmed, and the valuation figures reflect investor expectations rather than terms set by the company itself. Details around timing, structure and pricing remain unsettled.
Investor enthusiasm for AI ventures has fueled soaring private valuations across the industry, though some analysts have cautioned that such figures depend heavily on sustained revenue growth and the pace of enterprise adoption. Any eventual listing would test whether public markets are prepared to absorb valuations of that scale.
Should Anthropic proceed, the offering would serve as a closely watched barometer for the broader AI sector and for investor appetite following SpaceX’s debut. The company has not publicly commented on the reported valuation range or its plans for a public listing.