Anthropic's $2T IPO pitch splits X

The New York Times reported that Anthropic's bankers told potential investors the company could seek more than $100 billion and reach a $2 trillion valuation. The conversations were confidential, and Anthropic has filed to go public, but the public offering terms remain unsettled. 1

CNBC reported that Anthropic has been holding preliminary "test-the-water" meetings and that negative sentiment toward AI and data centers is expected to appear as a risk factor in its prospectus. CNBC also reported an annualized revenue run rate of $65 billion in July and said Anthropic declined to comment. 2

The X sample is illustrative, not a poll. It includes a verified New York Times reporter, a verified market account and a verified AI-industry critic. Their posts show how the same report became a bullish size signal, a market headline and a valuation critique. 345

Reuters previously reported that investors were using a 2028 revenue projection of roughly $190 billion to $200 billion to price Anthropic and quoted investor David Merkel asking whether AI creates enough additional productivity to sustain the valuation. 6

The open questions are the size and price of any eventual offering, Anthropic's future revenue and margins, the cost of compute, and how much AI and data-center backlash changes investor demand.