Anthropic IPO Investors Target $2 Trillion Valuation for October Listing

Anthropic investors expect its October IPO to command at least $2 trillion, more than double the $965 billion Series H valuation from May 2026, per reports dated August 13. Backers project annualized revenue of $100–120 billion by year-end. A $2 trillion cap against $120 billion implies a ~16.7x price-to-sales multiple. Anthropic has not filed an S-1; the figure is an investor expectation, not confirmed terms.