The Anthropic IPO May Be Right Around the Corner. Here's What Investors Need to Know.

This year has been a major one for initial public offerings, even producing the biggest IPO on record: the Space Exploration Technologies operation. Including the exercise of an overallotment option, SpaceX raised more than $85 billion and entered the market with a trillion-dollar valuation.

Now, all eyes are focused on the next IPO, one that could be even larger than that of SpaceX. I'm talking about the upcoming Anthropic market debut. The artificial intelligence (AI) lab, maker of the famous AI assistant Claude, confidentially filed a draft registration statement with regulators in June. And news reports suggest an IPO may be right around the corner. Here's what investors need to know.

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Why IPOs spark excitement

So, first, a quick look at why the launch of companies involved in AI -- from SpaceX to AI chip designer Cerebras Systems -- has sparked excitement and drawn investors' attention. It's important to note that IPOs generally garner attention as they present new investing opportunities. On top of this, the AI market, heading toward a value of $3 trillion in just a few years, according to analysts, represents a massive growth opportunity.

Publicly traded AI leaders such as Nvidia and Amazon have seen revenue skyrocket in recent years, so investors are eager to get in on the next new AI story.

Now, let's consider Anthropic and what you as an investor need to know. The company is the maker of the Claude AI assistant, the popular Claude Code coding tool, and other AI-driven products, and these are in high demand. TechCrunch, citing an Anthropic spokesperson, reported that Claude paid subscriptions have more than doubled in 2026.

In May, Anthropic raised $65 billion in Series H funding, pushing its valuation to $965 billion. At the time, the company said its revenue run rate had surpassed $47 billion.

AI labs such as Anthropic and OpenAI have been key players in the AI story, calling for a ramp-up in AI infrastructure from cloud partners such as Amazon Web Services (AWS). This increase in compute results in higher revenue for them -- more compute allows Anthropic and OpenAI to supercharge the performance of their large language models and serve more customers.