Report: Anthropic hopes to surpass SpaceX’s record IPO raise when it finally floats
SiliconANGLE Mike Wheatley ● Covered by 10 sources
Anthropic wants a huge IPO, maybe bigger than SpaceX’s. It’s racing OpenAI to Wall Street while its losses and costs stay massive.
Based on reporting by SiliconANGLE, Mike Wheatley — read the original for the full story.
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Anthropic is quietly aiming high for its first public offering. According to Bloomberg sources, the Claude maker wants an IPO big enough to match, and maybe beat, SpaceX’s record-setting public raise. The company is hoping to file by the end of this month, though the timing and the size of the deal are still moving pieces.
That ambition says a lot about where Anthropic thinks it stands. SpaceX raised $75 billion in June, with the total expected to climb to $86.2 billion if an overallotment option gets used. Anthropic, meanwhile, last raised $65 billion in May at a $965 billion valuation. OpenAI’s March fundraising valued it at $852 billion, but Anthropic now appears to be trying to get to market first.
The financial picture is messy, which is the part investors will keep circling back to. Anthropic reportedly leaked figures showing a small operating profit in the second quarter, but its net loss for 2025 was nearly $42 billion, up from $8.3 billion the year before. At the same time, revenue is surging: more than $11.5 billion in the second quarter, compared with $787 million a year earlier. By the end of July, its revenue run rate had passed $65 billion.
That kind of growth comes with a brutal bill. Anthropic and OpenAI are both spending billions each month on compute, and Anthropic has already signed a three-year deal for computing resources from SpaceX that could be worth tens of billions of dollars. The company is also lining up a revolving credit facility of more than its roughly $10 billion target, and it is working with Morgan Stanley, Goldman Sachs and JPMorgan on the IPO.
There’s another classic Silicon Valley wrinkle here: control. Anthropic’s CEO and co-founders are said to be considering super-voting shares, the same sort of setup Elon Musk used at SpaceX. That’s usually the part where the “public market discipline” speech quietly exits the room.
My take — AI-written commentary, not fact-checked reporting
This is the same old AI parade, just dressed in IPO clothes: record valuations, giant losses, and a prayer that revenue growth outruns the power bill. The funny part is how quickly “go public” has turned into “go public before the other guy.” Super-voting shares only make the whole thing feel more like a private club with ticker symbols.
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