Anthropic is planning what could be the largest initial public offering in history. The AI company behind Claude plans to launch its IPO roadshow in the week of November 9, Bloomberg reported.

The company is targeting a valuation of about $2 trillion and hopes to raise nearly $100 billion. Trading could begin before Thanksgiving on November 26, which would make it the biggest IPO ever, ahead of SpaceX’s $1.77 trillion listing planned for June.

Anthropic will host an investor day on October 14, and Morgan Stanley, Goldman Sachs and JPMorgan Chase are set to lead the offering. The company was last valued at $61.5 billion in a March funding round.

Financial figures disclosed to investors show Anthropic’s 2025 revenue reached $4.6 billion, up twelvefold, though it posted an operating loss of $8.06 billion. The company has $518 billion in committed spending on computing power.

CEO Dario Amodei has said the company does not need the money urgently but wants to stay ahead in the AI race. The listing would be a landmark moment for the AI industry.