Anthropic Valuation Surges Amid AI Expansion
Anthropic’s implied pre-IPO valuation has climbed to nearly $1.2 trillion following major infrastructure agreements with Google Cloud and SpaceX. According to secondary market tracking data, the company’s valuation increased roughly 20% within a single week.
The jump also places Anthropic ahead of OpenAI on implied secondary-market valuations. Additionally, investor interest continues to rise as AI infrastructure spending accelerates across the industry.
The valuation increase followed reports that Anthropic committed approximately $200 billion to Google Cloud services and tensor processing units over the next five years. Consequently, the agreement could represent more than 40% of Google’s recently disclosed cloud revenue backlog.
Meanwhile, Alphabet shares gained in after-hours trading after the report emerged. Furthermore, contracts involving Anthropic and OpenAI now account for more than half of the combined revenue backlogs across major cloud providers.
SpaceX Partnership Expands Compute Capacity
Anthropic has also secured access to SpaceX’s Colossus 1 data center in Memphis, Tennessee. The agreement provides the company with access to more than 222,000 Nvidia GPUs, including H100, H200, and GB200 systems.
In addition, the infrastructure delivers more than 300 megawatts of compute capacity for large-scale AI model training and deployment. The partnership, therefore, strengthens Anthropic’s position in the intensifying race for advanced AI compute resources.
Both companies are also exploring future AI data center initiatives involving space-based infrastructure. As competition grows, access to large-scale computing systems continues to shape the AI industry’s strategic landscape.
Revenue Growth Fuels IPO Expectations
Anthropic’s revenue growth has accelerated rapidly over the past 15 months. Earlier this year, the company reported an annualized revenue run rate exceeding $30 billion, compared with $9 billion at the end of 2025.
More recent investor estimates suggest annualized revenue may now surpass $40 billion. Consequently, speculation around a potential public offering has intensified.
Reports indicate Anthropic could pursue an IPO as early as October 2026. Additionally, bankers reportedly expect the company to raise more than $60 billion through a public listing.
If Anthropic enters public markets at a $1.2 trillion valuation, it would rank among the world’s most valuable companies. Despite employing roughly 5,000 people, the company has achieved one of the highest revenue-per-employee ratios in the technology sector.
