One of the most highly anticipated initial public offerings (IPOs) of 2026 is likely to be Anthropic's, the artificial intelligence (AI) company that makes the Claude chatbot. What may be most surprising is that it may fetch an even higher valuation than Space Exploration Technologies Corp (NASDAQ: SPCX), also known as SpaceX, which already looked expensive when it went public at around $1.75 trillion. Anthropic is reportedly aiming for a valuation of at least $2 trillion.
Can that really be justifiable? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.
For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » According to reports, Anthropic's stock may begin trading around October, and when the date gets closer, investors will learn more about the company's financials and just how high a valuation it is seeking. Currently, it's believed that Anthropic's IPO could price the AI company at a market cap of $2 trillion, potentially even as high as $3 trillion.
The stock market has been hot this year, with the S&P 500 hitting record levels, and thus, the time is ripe for companies to go public, as it can result in much higher valuations than in years when investors may be more cautious. SpaceX went public in June, and its valuation already looked excessive at around $1.75 trillion. It would end up surging to more than $2 trillion, only to fall afterward.
It's been a volatile stock out of the gate, and Anthropic may experience similar volatility. There's been plenty of excitement around Anthropic's Claude chatbot, as it is highly popular for coding and can drastically improve efficiency for businesses, enabling them to do more with less. According to Bloomberg, Anthropic's revenue for the second quarter surged to $11.5 billion, up from $787 million a year ago.
It's been growing at an incredibly fast pace. However, without its full financials to analyze, investors still don't have a firm idea as to its prospects for profitability. But as SpaceX has shown, even with billions in losses, that may not deter investors from buying up a hot new growth stock.
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