Anthropic IPO Valuation Target: $2 Trillion, $6 Billion Acquisition Talks

Anthropic investors aim for a $2 trillion valuation for the upcoming IPO. There are reports of an acquisition deal with Decart, an Israeli AI startup, worth $6 billion. These developments highlight Anthropic's expansion and valuation aspirations.

Investors in Anthropic are targeting a valuation near $2 trillion for an initial public offering as soon as October 2026, according to Financial Times reporting picked up across outlets on August 13 . The figure is investor ambition rather than a company-confirmed target, and it is anchored on projected 2026 revenue of roughly $100 billion to $120 billion. At least one investor called $2 trillion conservative and floated $3 trillion .

Separately, Anthropic is in talks to acquire Decart, an Israeli-founded AI startup, for about $6 billion . Decart last raised at a $4 billion valuation in May 2026, so the reported price carries a premium, and the transaction would be Anthropic's largest acquisition to date and its fifth of 2026 . Terms are not final and no agreement has been announced.

Both threads point at the same question, which is whether the underlying business supports the number. Coverage the following day made the bear case explicitly, arguing the revenue base and margin structure sit well below what a $2 trillion print would imply .

For public-market investors the read-through runs through the AI infrastructure complex rather than Anthropic itself. An October listing at that scale would reset comparables across private AI valuations and put a public price on the compute commitments that flow to NVDA, AMZN and GOOGL, each of which holds commercial or investment exposure to Anthropic. What to watch is whether an S-1 actually appears on the reported October timeline, and whether the Decart talks convert into a signed deal.

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