Anthropic Eyes $2 Trillion IPO Valuation, Jim Cramer Says the Revenue Backs It Up

Anthropic shareholders expect the artificial intelligence company to go public at more than $2 trillion, the Financial Times reported. CNBC host Jim Cramer defended that number hours later.

Such a price would deliver the largest initial public offering ever completed and vault the company past SpaceX. Anthropic filed confidentially with US regulators in June and entered a quiet period.

Why Anthropic's $2 Trillion Price Tag Splits Wall Street

Anthropic closed May with annualized revenue above $47 billion. Investors now expect $100 billion to $120 billion by December. That implies more than tenfold growth in a single year.

The company last raised at a $965 billion post-money valuation. A $2 trillion debut would therefore double that mark within months.

Cramer argued the multiple holds up as long as the sales arrive.

One investor told the Financial Times that 800% annual growth justifies at least 30 times revenue. On that basis, Anthropic could clear $3 trillion. By comparison, Palantir and Nebius trade near 55 times sales.

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