Anthropic is considering allowing existing shareholders to sell shares in its upcoming initial public offering, according to people familiar with the matter who spoke to The Information. The decision would depart from the playbook SpaceX followed in its record-breaking June 2026 IPO, where the company sold primarily new shares to raise capital rather than letting insiders cash out.
The move could have significant implications for investor demand. IPOs that allow insider selling are sometimes viewed more cautiously by public market investors, who may worry that early backers are eager to exit. However, permitting shareholder sales can also help meet demand from public market investors who want to buy at the offering price.
Anthropic's IPO is expected to be one of the largest in technology history. The company recently confidentially filed for a US listing, and investors are eyeing a valuation that could reach $2 trillion — potentially surpassing SpaceX's $85.7 billion June offering as the biggest IPO ever. The AI lab behind the Claude family of models has seen explosive revenue growth, with annualized revenue reportedly reaching $47 billion in May 2026.
SpaceX priced its June Nasdaq offering at $135 per share, selling 555.56 million new shares for $75 billion, then raised the total to about $85.7 billion including the underwriter option. That approach — selling primarily new shares — is often favored by companies that want to signal confidence that growth lies ahead.
Anthropic's deliberations come at a pivotal moment for the AI industry, as the company navigates the tension between its meteoric growth and the broader concerns about AI safety and regulation that it has itself highlighted as risks in its IPO filing.
