Reuters reported on 13 November that Anthropic’s $64 billion IPO had drawn orders for six times the shares available by 12 November, compared with twice the shares offered by the end of SpaceX’s second roadshow day. Anthropic’s orders stood at about twice the available shares on 10 November, the first day of its roadshow. The company and its banks are meeting prospective investors in New York, Boston and San Francisco.
Investors are assessing whether Claude can retain its lead beyond coding among knowledge workers as Alphabet’s Google catches up in advanced AI models. An investor who attended a roadshow meeting told Reuters that Anthropic had not answered some questions in detail. Another said a group meeting lacked a dial-in option for institutional investors to ask questions.
Banks estimate Anthropic’s 2028 revenue at around $270 billion to $280 billion. Some sell-side forecasts put revenue at around $52 billion to $53 billion in 2026 and $135 billion to $137 billion in 2027. Certain investor forecasts run 10 per cent to 15 per cent higher for those years, while an investor who declined to participate forecasts 2028 revenue about 30 per cent below the sell-side estimate. SpaceX and cybersecurity company CrowdStrike feature in valuation models. Anthropic is expected to price the offering on 18 November.
