Anthropic: 2026 IPO Odds Fall to 28% vs SpaceX
The Kobeissi Letter reports markets now assign Anthropic just a 28% chance of being the largest IPO of 2026, down from 62%, after OpenAI cut its valuation target by $150 billion and amid a potential high junk credit rating for Anthropic.
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Anthropic is no longer expected to surpass SpaceX ($SPCX) as the largest IPO by market cap in 2026. Markets now see just a 28% chance of Anthropic being the largest IPO of the year, down from a high of 62%. This comes amid reports that Anthropic could receive a "high junk" credit rating, while OpenAI has cut its fundraising valuation target by $150 billion. Anthropic is expected to IPO this month.
The Kobeissi Letter
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