Anthropic investors eye $2 trillion IPO valuation

Anthropic started as a safety-focused spinoff from OpenAI. Its Claude chatbot competes with ChatGPT and Google's Gemini for the same corporate customers. Investors now think that business could be worth $2 trillion. The number isn't official. It's what six investors reportedly told the Financial Times they expect this fall.

Anthropic's own revenue projections are doing the heavy lifting here. The company expects $100 billion to $120 billion in revenue this year. That's a huge jump from where it started. Investors read that growth rate two ways. Some call it proof the price makes sense. Others call it a bubble. Not everyone agrees. The whole AI industry is leaning on a few companies to keep growing this fast. That's what justifies the money already spent.

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Will Anthropic actually file for an IPO at this price? October is only weeks away. If investors are right, this would be the largest public listing ever. It would beat SpaceX's own record debut. If they're wrong, and the number shrinks before the real filing, that's a bigger warning sign. It would mean the whole AI industry is overvalued, not just Anthropic.