According to foreign sources, Anthropic could start the first public collection in October. Some investors expect that the Claude model developer will have a market value of at least $2 trillion, or even higher expectations. If it's true, it's going to be more than SpaceX in June this year, about 1.77 trillion dollars.

These figures are still expected by investors and are not formally priced by companies. It was reported that Anthropic had not published IPO issue prices or target valuations, but that the discussion around its listing volume had moved the AI valuation to a new compartment.

Income growth supports high valuation expectations

The market is crowded with Anthropic, based mainly on income growth. In May of this year, Anthropic indicated that its annualized income performance rate had exceeded $47 billion, while at the end of 2025 it was about $9 billion. The investors interviewed predicted that this number could rise to between $100 billion and $120 billion by the end of 2026.

This increase also explains why the $2 trillion valuation is beginning to be seriously discussed. Anthropic ' s valuation for the May round of financing this year was approximately $965 billion. If listed at $2 trillion, it would mean that its open market valuation would more than double its more private valuation in a few months.

However, the market is also concerned about the sustainability of this growth. Lower-cost AI models, more radical pricing by peers, and large-scale infrastructure inputs required to train front-line models can all compress future revenue multipliers.

SpaceX becomes a direct reference

The potential listing of Anthropic was frequently compared to SpaceX because the latter had just been listed in June with an estimated 1.77 trillion dollars in valuation, resulting in a global IPO record. If Anthropic reaches $2 trillion, this record will soon be rewritten.

It was also mentioned that there was a high volatility in stock prices after SpaceX was listed. SPCX has recently re-established itself above the $135 distribution price, after a marked fall in July and early August. The stock price was still traded in the vicinity of $141 last Friday's rebuff.

Cursor transactions increase AI competition

SpaceX is no longer just a valuation reference, but is also entering AI competition more directly. According to the report, SpaceX had agreed in June to buy Anysphere for about $60 billion, a company that was an developer of the AI programming tool Cursor.

After the transaction was completed, Cursor was further integrated into the technical map of Mask. According to the report, Cursor has since worked with SpaceXAI to develop a model, including Grok 4.5, showing that the acquisition is rapidly serving the broader AI layout.

Against this background, Anthropic's IPO is not just another big listing. The market is assessing whether there will be two trillion-dollar companies in the future competing in many directions, including models, programming agents, infrastructure and business software.