Anthropic IPO Said to Target $2T Valuation in Mid-November

A $2 trillion listing would make Anthropic a public benchmark for AI valuations rather than a private-market curiosity, and the roughly 20x sales multiple implied by the May round leaves little room for the revenue projection to miss. The concentration of that projection in a single year-end number makes the IPO unusually sensitive to any sign of deceleration in annualized revenue, which public disclosure would expose in a way private rounds never did. Whether the listing window holds and whether the revenue trajectory survives the scrutiny of a public float are the open questions.