Anthropic is among the few major companies still on track for a public listing despite the broader slowdown in the US IPO market. The anticipated IPO could value the company at up to $2 trillion, potentially making it the largest IPO ever. Third-quarter 2026 revenue reached $16.8 billion, representing approximately 45% growth from the second quarter. In 2025, Anthropic generated $4.6 billion in revenue while posting a net loss of roughly $42 billion, with disclosed commitments of $518 billion in compute and cloud infrastructure. The broader IPO market has thinned due to rising interest rates, midterm elections, geopolitical tensions, and investor skepticism about tech valuations.
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