The Financial Times (FT) reported on the 13th that among some investors in artificial intelligence (AI) startup Anthropic, there are expectations that its October initial public offering (IPO) will push its corporations value above $2 trillion (about 2,814 trillion won).
According to FT, six Anthropic investors said that based on growing revenue, Anthropic could be valued at more than twice its current level in this fall's listing.
Investors expect Anthropic's annualized revenue to reach $100 billion to $120 billion by the end of this year. That is more than 10 times the level at the start of the year.
One investor said, "If Anthropic is growing 800% a year, even taking a very conservative view it should transaction at around 30 times revenue," adding, "then it becomes a $3 trillion corporations."
Anthropic lacks a directly comparable listed peer in the United States for its corporations value. However, Palantir and Nevius, seen as AI beneficiaries, are currently transaction at about 55 times this year's revenue.
After submitting listing documents to the U.S. Securities and Exchange Commission (SEC) in June, Anthropic entered a "quiet period," during which disclosures of results are restricted for a set time.
As of May 5, it announced that annualized revenue had surpassed $47 billion, and its corporations value, for the first time, surpassed OpenAI to reach $965 billion (about 1,358 trillion won).
Still, there are plenty of hurdles. Anthropic has repeatedly clashed with the Trump administration, and it is also pursuing a lawsuit against the U.S. Department of Defense, which labeled Anthropic a "supply chain risk."
Price competitiveness is also a burden. Anthropic's flagship model costs more than 2.5 times as much to use as OpenAI's flagship model, and as the performance of China's open-weight models has improved rapidly, some corporate customers have reportedly moved to cheaper models.
An Anthropic investor said, "It's easy to find issues, but the company still holds the top spot in terms of performance, positioning, and being the brand people want to be associated with."