Anthropic moved a step closer to one of the largest public listings on record on Wednesday, as the investment banks advising the company weigh an initial public offering (IPO) valuation above $1.5 trillion.

The figure, reported by the Financial Times, marks an increase from the roughly $1.4 trillion target that had previously surfaced — an upward revision of about $100 billion. Because the number is still being weighed by the banks, the eventual valuation, deal terms, and timing have not been finalized.

Background: What Anthropic Does

Anthropic is a San Francisco-based artificial intelligence company founded in 2021 by former OpenAI researchers, including siblings Dario Amodei, who serves as chief executive officer, and Daniela Amodei, the company's president. The firm is best known for developing the Claude family of large language models and AI assistants, and its backers include Amazon and Google. A public listing would, for the first time, allow stock-market investors to buy into the company directly rather than hold exposure only through its private backers.

How the Valuation Compares

A listing above $1.5 trillion would place Anthropic among the most valuable companies ever to complete a public market debut. The largest IPO by valuation to date remains Saudi Aramco's December 2019 listing, which valued the Saudi Arabian oil company at roughly $1.7 trillion. For perspective, Facebook's May 2012 IPO valued the social network at roughly $104 billion when it went public — a small fraction of the figure now under discussion for Anthropic — underscoring how unusual a debut at trillion-dollar scale is for public markets.

The $1.5 trillion figure remains under discussion by the banks advising the company. The next markers to watch are a confirmed valuation, the size of the offering, and a listing timetable, none of which has been set.

This article was first published by COINOTAG on November 11, 2026. Source: Anthropic IPO: Banks Weigh $1.5 Trillion Valuation