Anthropic market debut could break SpaceX IPO record

SAN FRANCISCO: The market debut of artificial intelligence start-up Anthropic, a chief rival to OpenAI, could break the record set by SpaceX, US media have reported.

Elon Musk’s space company went public in June at a value of USD1.77 trillion and raised USD85.7 billion in its blockbuster initial public offering, the largest in history. Anthropic, maker of the Claude AI models, “expects to match or beat the size” of SpaceX’s deal, according to Bloomberg.

The company’s bankers have told potential investors it could seek to raise “more than USD100 billion” in its IPO, which could put the company’s value at USD2 trillion, The New York Times reported Friday, citing two unnamed sources with knowledge of the talks.

That would more than double the five-year-old company’s previous valuation at USD965 billion, reached in its last funding round in June. Only a handful of companies including Apple, Microsoft and chip maker Nvidia have surpassed the USD2 trillion mark.

After filing to go public in June, the company could reveal its public offering prospectus in the coming weeks, the Times reported, with shares possibly listed in the autumn.

Anthropic could then beat OpenAI, the maker of ChatGPT, to market. That company is hoping to list its shares in 2027.

Founded in 2021 by siblings Dario and Daniela Amodei and other former executives at OpenAI, Anthropic has positioned itself as a safety-focused alternative in the AI race.