❯ Anthropic Could Publicly File as Soon as Late August, With Raise Said to Rival SpaceX’s Record

FILING SPRINTBloomberg reports Anthropic is expected to publicly file its listing documents as soon as late August, targeting a raise that matches or exceeds the record set by SpaceX — which raised $75 billion in its initial offering, rising to $86.2 billion after the over-allotment option was exercised, the largest IPO in history. The company confidentially filed with the SEC as early as June, the report says, with an underwriting syndicate comprising Morgan Stanley, Goldman Sachs and JPMorgan.

REVENUE CURVEUnderpinning that scale is a steep revenue curve. Bloomberg, citing people familiar with the matter, says Anthropic’s annualized revenue reached $65 billion in July, up from $47 billion at the start of the year and only about $10 billion for all of 2025. A May funding round valued the company at $965 billion, already past OpenAI’s $852 billion. The same day, The Information separately reported that the company is preparing super-voting shares for co-founders including Amodei, to hedge against control erosion after multiple rounds of dilution.

IPO PRICINGWhat’s really being put on the table is the public pricing of a frontier lab. Until now, every valuation emerged from closed-door bargaining in the private market. After this filing step, the cash-burn curve, gross-margin structure and customer concentration all have to be laid open for the secondary market to see. For fundraisers racing on the same track, Anthropic’s opening performance will directly rewrite the floor for their next round of negotiations.

▪ SIGNALThe two months between the confidential filing and the public filing mark the first time an AI lab is required to explain, under the same accounting standards, exactly how it makes money.