Anthropic Could Raise $100 Billion—Ten Times Europe’s Largest Listing in Decades
Anthropic could raise around $100 billion in a listing as early as October, surpassing SpaceX’s record, with backers modeling a valuation of at least $2 trillion. The Financial Times reports that senior executives have not set a valuation target even privately.
A Record-Breaking Valuation
This potential funding round would be roughly ten times the largest European listing in decades, exceeding the $75 billion SpaceX raised in June and the $85.7 billion post-underwriter exercise. Even the $25.6 billion Saudi Aramco raised in 2019 pales in comparison.
The Company's Rapid Growth
Anthropic's valuation is based on its impressive revenue trajectory:
- It made roughly $10 billion across all of 2025.
- Reached $47 billion annualized by May.
- Hit $65 billion by July.
Internal forecasts project $190 billion to $200 billion in revenue for 2028, supporting the assumed valuation.
A Swift Timeline
A public filing could come as soon as the end of this month, with a listing potentially happening as early as October—well ahead of OpenAI’s expected 2027 launch.
Super-Voting Shares in Play
While the money buys significant influence, it's not outright control. Anthropic is considering super-voting shares for Dario Amodei (who owns about 2%) and his co-founders. The price, therefore, is being set by existing stakeholders rather than independent market forces.