Anthropic targets record-breaking $200 billion IPO on nasdaq

Anthropic, the artificial intelligence company, has selected NASDAQ as the venue for its potential initial public offering (IPO), with plans to launch a roadshow in October 2026 and list before the U.S. midterm elections in November. The company aims for a valuation of approximately $2 trillion, surpassing the previous record held by SpaceX. This valuation would correspond to a price-to-sales ratio of about 31 times its July revenue of $65 billion. The IPO would be the largest in history if realized. Anthropic submitted an S-1 registration statement to the SEC in June and has engaged major investment banks such as Goldman Sachs, JPMorgan, and Morgan Stanley as underwriters. The company’s Series H round, completed on May 28, raised $1.3 trillion in funding, pushing its post-money valuation to $9.65 trillion. Analysts suggest that Anthropic must achieve $1.9 to $2 trillion in annual revenue by 2028 and maintain an adjusted operating margin of over 5% to justify its valuation.