Anthropic investors expect the AI startup to float at a valuation of $2 trillion or more in October, a dizzying figure that would eclipse SpaceX and make the AI lab’s debut the largest-ever initial public offering.

Half a dozen of the company’s backers told the FT that Anthropic’s rapidly rising revenue would enable it to more than double its current valuation in a planned autumn float.

A listing at that level could unlock billions of dollars in gains for the five-year-old company’s early investors but would also test public markets that are growing more nervous about the AI boom.

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