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OpenAI valued at $1.25 trillion, as rival Anthropic nears its IPO

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Technology Desk

In Short: FTX, which invested $500 million in Anthropic in 2021 for a 13.56% stake, had a 7.84% holding before its 2024 bankruptcy sale, which would be worth $117.6 billion if Anthropic were valued at $1.5 trillion.

OpenAI; Anthropic logos
Logos: OpenAI (Public domain); Anthropic (Public domain)

Anthropic AI IPO Crashing to $1 TRILLION - OpenAI is DEAD. Eli the Computer Guy

Anthropic, the AI startup behind the popular Claude chatbot, is preparing for a potential $2 trillion initial public offering (IPO) in the United States, according to filings with the U.S. Securities and Exchange Commission.

The company, which reported a net loss of $42 billion in 2025, has also been losing large sums of money, with an operating loss of $8.06 billion, up from $2.98 billion in 2024. Despite these losses, Anthropic ended 2025 with $20.28 billion in cash, cash equivalents, and short-term investments.

Anthropic CEO Dario Amodei recently called for AI companies to slow the development of increasingly powerful models, a stance that contrasts with the rush to market seen in other tech companies.

The upcoming listing of Anthropic will serve as a major test for continued market enthusiasm for AI, especially as the IPO market has wobbled recently, with several companies pulling or pausing listings.

Anthropic reportedly spent approximately $7.33 billion on computing and infrastructure in 2025, roughly three times what it spent the year before.

The company's $42 billion loss would sink most companies, but some current and prospective investors value Anthropic at about $1.5 trillion, down from roughly $2 trillion a week ago.

Anthropic's IPO has not yet been finalized, but secondary market discussions and reports have floated potential valuations reaching up to $1.5 trillion.

Anthropic's S-1 filing could start trading as soon as next month at a valuation of anywhere between $1.5 trillion and $2 trillion.

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