Anthropic is preparing for a public listing on the Nasdaq at a target valuation of $2 trillion or more, according to documents shared with select investors. The company reported a 14-fold year-over-year revenue increase to $11.5 billion, with its annualized revenue run rate reaching $65 billion at the end of July.
The company announced its second consecutive quarter of profitability, calculated on an adjusted basis that excludes stock-based compensation, partner revenue-sharing, and training costs. Analysts project Anthropic could reach $120 billion in annualized revenue by the end of the year, driven by strong enterprise demand for its Claude model family.
While sharing prospectus details with investors, CEO Dario Amodei publicly advocated for a industry-wide slowdown in AI development pace to address safety risks. Rival OpenAI simultaneously confirmed it will not pursue an IPO this year, leaving Anthropic positioned as a primary public market test for frontier AI labs.
Why it matters
A $2T IPO would set unprecedented valuation benchmarks for AI startups and serve as a critical test for public market appetite.
Massive annualized revenue growth validates massive enterprise demand for frontier models despite high underlying training expenditures.
OpenAI’s delay in going public leaves Anthropic as the sole mega-cap pure-play AI listing on the immediate horizon.
Source: the-decoder.com
