Anthropic Targets $2 Trillion Valuation Following Q3 Revenue Surge
AI industry leader, Anthropic, known for its innovative Claude family of AI models, is preparing for a potentially historic IPO on Wall Street. The company is aiming for a valuation of over $2 trillion. This news was announced during a private investor presentation in San Francisco on October 14, where it was revealed that the company’s Q3 2026 revenue reached $16.8 billion, marking a 45% increase from the $11.6 billion reported in Q2.
The San Francisco-based firm also reported adjusted profitability for the second consecutive quarter. It boasted an impressive adjusted gross margin of approximately 85% and an adjusted operating margin exceeding 11%. The cumulative revenue for the first nine months of 2026 was approximately $33.1 billion, which is over seven times the total revenue of $4.6 billion that Anthropic reported in 2025.
The IPO is slated to take place following the U.S. congressional elections in November 2026. Morgan Stanley, Goldman Sachs, and JPMorgan Chase are reportedly set to serve as the lead underwriters. Anthropic’s last private valuation was $965 billion, following its Series H round in May 2026. However, the company is now pitching to investors at a valuation more than double that figure. According to projections by research firm SemiAnalysis, Anthropic’s annualized revenue run rate could potentially reach approximately $74 billion by the end of the year.
Source: Yahoo Finance – Anthropic’s $2 Trillion IPO Pitch