Anthropic Plans $2 Trillion IPO Amid Massive Cloud Deals

AI start-up Anthropic is planning an initial public offering for November 2026, delaying the launch from October to allow investors to review third-quarter financial results. The company is expected to seek a valuation of approximately $2 trillion and raise up to $100 billion, a significant increase from its $965 billion valuation in May 2026.

To support its growth, Anthropic has secured massive infrastructure commitments. The company entered into a seven-year cloud services agreement with Akamai Technologies valued at $11.6 billion, with a potential expansion to $20 billion. As part of this deal, Anthropic received warrants to purchase up to 5% of Akamai's common stock. To facilitate this partnership, Akamai is increasing its 2026 capital spending by $1.7 billion, coordinating hardware supplies through Lenovo and Jabil.

Anthropic also maintains a deep financial relationship with Amazon, which invested $13 billion between 2023 and 2026 with commitments for up to $20 billion more. In return, Anthropic committed to spend up to $100 billion over the next decade on Amazon Web Services to operate its Claude model. Additionally, Alphabet Inc. holds a stake in the company that was valued at $124.3 billion as of the second quarter of 2026.