Betting markets are pricing in a strong chance that Anthropic, the artificial intelligence company behind the Claude family of models, will be worth at least $1 trillion by the end of the year, with a Polymarket contract currently showing 93% odds of the company hitting that threshold.
The prediction market data, which shows Anthropic's private valuation at approximately $949 billion as of late May, assigns an 88% probability to the company reaching $1.25 trillion and a 76% chance of hitting $1.5 trillion by 31 December.
At the more ambitious end, there is a 38% chance of a $2 trillion valuation, an 18% probability of $3 trillion and an 8% chance of reaching $5 trillion.
The trajectory reflects an extraordinary run in private market fundraising that has seen Anthropic's valuation climb from $61.5 billion in March 2025 to $183 billion by September and then to $380 billion after a $30 billion Series G round in February 2026 led by GIC and Coatue.
The company is now in talks to raise a further round of at least $30 billion at a pre-money valuation exceeding $900 billion, with the deal expected to close imminently.
Revenue growth has been staggering, climbing from approximately $9 billion in annualised terms at the end of 2025 to more than $30 billion by April 2026, driven by rapid enterprise adoption of Claude and the success of Claude Code, its AI coding assistant, which alone generates $2.5 billion in annualised revenue.
The company generated $4.8 billion in actual revenue during the first quarter and is expected to post $10.9 billion in the second quarter, which would mark its first profitable period.
Anthropic is targeting a public listing as soon as October, which would make it one of the most anticipated IPOs of the year alongside SpaceX and OpenAI.
The company has hired Wilson Sonsini as legal counsel for IPO preparation and brought on capital markets and investor relations specialists in April, though no S-1 prospectus has yet been filed with the Securities and Exchange Commission (SEC).
Google holds the largest outside stake at roughly 14%, with Amazon the second-largest backer at more than $8 billion in committed investment.
The IPO would place Anthropic in a race with OpenAI, which is preparing to file its own prospectus confidentially, to become the first frontier AI company to reach the public markets.