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Anthropic's $2 trillion IPO valuation, from six investors, would eclipse SpaceX's $1.77 trillion listing. The five-year-old lab trades at roughly 43 times revenue, below AI peers at 55 times. Morgan Stanley, Goldman Sachs, and JPMorgan lead the offering. Investors expect annualized revenue to reach $100bn to $120bn by end of 2026.
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