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OpenAI valued at $1.25 trillion, as rival Anthropic nears its IPO
· Confirmed
In Short: Anthropic's IPO will serve as a major test for continued market enthusiasm for AI, following SpaceX’s recent blockbuster IPO which valued the company at $1.77 trillion.
Anthropic, the AI startup founded in 2021 by Dario Amodei and colleagues who had left OpenAI, is reportedly exploring a large-scale capital raise this summer to expand its computing infrastructure.
According to Bloomberg, Anthropic could seek a valuation close to $1 trillion if the raise goes through, driven by strong demand for its AI agent, Claude Code, which accelerates software writing.
The upcoming IPO for Anthropic is expected to be one of the most anticipated listings of the AI era, with Goldman Sachs and Morgan Stanley leading the offering.
Despite the current volatility in the IPO market, where several companies have pulled or paused listings, Anthropic is moving forward with its plans.
The company's S-1 filing with the U.S. Securities and Exchange Commission indicates a potential valuation range between $1.5 trillion and $2 trillion.
Anthropic's filing highlights the significant financial stakes involved, with the company reporting a net loss of $42 billion in 2025 and spending approximately $7.33 billion on computing and infrastructure.
The filing also underscores the importance of AI safety, as Anthropic has called for slowing the development of increasingly powerful models.
In addition to the financial aspects, Anthropic has also signed a Joint Declaration with Kenya, establishing a cooperation framework covering AI skills, research, and public-sector applications, with a focus on AI safety and evaluation.
What's confirmed
- The AI company could surpass rival OpenAI in valuation if the raise goes through, according to the Financial Times Anthropic could soon approach a market valuation close to $1 trillion, with a new report saying the AI startup is exploring a large-scale capital raise this summer aimed at substantially expanding its computing infrastructure.
- Both deals valued Anthropic at $350 billion — the same figure attached to a funding round the company closed in February.
- Anthropic was founded in 2021 by Dario Amodei and colleagues who had departed OpenAI.
- The fundraising activity has been driven in part by strong demand for Claude Code, Anthropic's AI agent built to accelerate software writing, which Bloomberg said pushed the company to seek capital at a rapid clip.
What's still developing
- Echoing FT and Wall Street Journal reports from last week, Bloomberg says OpenAI is still pursuing additional investments that could increase the amount to $20 billion, and that it had initially hoped to raise as much as $30 billion at a higher valuation of $1.4 trillion.
- The ChatGPT developer wants investor commitments locked in before Anthropic's market debut, two people familiar with the matter said.
- The rush comes as the IPO market wobbles, with several companies pulling or pausing listings and chipmakers in the Philadelphia Semiconductor Index shedding $1.6 trillion in market value in under two weeks.
- The 2.8-trillion-parameter model cuts API prices by 33 percent and could become the top open-weights release by November.
- A hypothetical $1.5 trillion Anthropic IPO valuation would put the 7.84% holding FTX had before its 2024 bankruptcy sale at $117.6 billion, far above the sale proceeds.
- FTX invested $500 million in Anthropic in 2021 for a 13.56% stake.
- The upcoming listing follows SpaceX’s blockbuster IPO in June, which valued the company at $1.77 trillion, and will serve as a major test for continued market enthusiasm for AI.
- IPO have not yet been finalized in the filings, secondary market discussions and reports have floated potential valuations reaching up to $1.5 trillion.
- Anthropic just filed its S-1 to go public on the Nasdaq, and it could start trading as soon as next month at a valuation of anywhere between $1.5 trillion and $2 trillion.
- SemiAnalysis’ Joey Brookhart helps break down the Anthropic S-1 and why he thinks the company could be worth $10 trillion.
- CTech 21:03, 29.09.26 OpenAI is targeting as much as $30 billion in new funding at a valuation of roughly $1.4 trillion, Bloomberg reported Tuesday, in what would be another extraordinary step up in the value of the company that helped ignite the generative AI boom.
- “The advent of machine intelligence is one of the seminal moments in human history,” Anthropic wrote in the filing.