Anthropic's $965 Billion Valuation, Manhattan HQ, and October IPO: The Complete 2026 Guide

Anthropic, the AI company behind the Claude chatbot, has experienced a remarkable year in 2026. Its valuation has surged past its chief rival OpenAI on secondary markets, it has cemented a physical presence in New York by leasing an entire Manhattan office tower, and it is racing to be the first major foundation-model AI company to go public, with a potential IPO as early as October 2026.

This guide covers the company's current valuation, how it stacks up against its own history and OpenAI, the details of its New York expansion, and a timeline of its IPO plans with Wall Street's biggest banks.

Secondary Market Valuation: The $1 Trillion Club

Anthropic's valuation has been a moving target in 2026, varying significantly depending on the platform and the date. As of late April 2026, shares on Forge Global, a regulated US marketplace, were trading at an implied valuation of roughly $1 trillion, according to Forge CEO Kelly Rodriques . By May 12, a LinkedIn post cited an implied valuation of $1.4 trillion on Jupiter's tokenized pre-IPO market .

However, in late May 2026, the most authoritative valuation anchor was set. On May 28, 2026, Anthropic closed a $65 billion Series H funding round at a $965 billion post-money valuation, led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital . A Zacks report the same week characterized it as "nearly $1 trillion" .

Key caveat: Secondary market pricing on thinly traded platforms can reflect speculative froth and may not match the clearing price of an IPO. The $965 billion primary round is the most authoritative valuation anchor .

Anthropic vs. OpenAI: The Valuation Showdown

The competition between the two AI leaders is most apparent in their valuations. Here is how they compare:

Metric	Anthropic	OpenAI
Latest primary valuation	$965B (Series H, May 28, 2026)	$852B (Mar 31, 2026)
Latest primary raise	$65B Series H	$122B round
Forge secondary (Apr 2026)	~$1T	~$880B
Previous round valuation	$380B (Series G, Feb 2026)	$300B (Mar 2025)

On the secondary market, Anthropic has overtaken OpenAI in implied valuation . However, OpenAI's last confirmed primary valuation is $852B, and it raised more total capital ($122B) . While both have confidentially filed for an IPO, OpenAI is reportedly leaning toward waiting until 2027, while Anthropic is targeting an October 2026 listing .

Anthropic's Own Meteoric Rise

Anthropic's own funding trajectory is staggering. From a $380 billion Series G in February 2026, the company jumped to a $965 billion Series H in late May—a 2.5x increase in roughly four months . This reflects extraordinary demand for AI equity ahead of a public listing.

New York Expansion and the Manhattan Lease

Anthropic is making a major real estate bet on New York City as part of its growth strategy.

The Building

The company signed a long-term lease for the entire 16-story, ~465,630-square-foot office building at 330 Hudson Street in Manhattan's Hudson Square neighborhood . The building is owned by AEW Capital Management . The space has room for more than 1,700 desks .

The Workforce

The company plans to double its NYC headcount to 1,000 employees by the end of 2026, up from fewer than 500 at the start of the year . The New York office was already its largest outside its San Francisco headquarters .

The Context

Anthropic had been seeking 250,000–450,000 square feet as of January 2026 . The 330 Hudson lease, at roughly 465,000 square feet, is at the high end of that range. The move is part of a broader AI boom in New York City .

IPO Timeline and Banking Consortium

Anthropic is laying the groundwork for what could be the largest tech IPO in history .

The Secret Filing

Anthropic submitted a draft registration statement confidentially to the SEC on June 1, 2026, giving the company the option to go public after the SEC completes its review .

The Target

The company is targeting an IPO as early as October 2026 . The offering could potentially raise more than $60 billion from public investors .

The Bankers

• Morgan Stanley and Goldman Sachs are the two lead left bookrunners .
• JPMorgan Chase is also on the deal in a supporting role .
• More banks could be added to the consortium in the future .

The Race

The IPO race is explicitly against OpenAI, which has also confidentially filed but is reportedly leaning toward a 2027 timeline . Internal tensions at OpenAI exist between the CFO, who prefers 2027, and CEO Sam Altman, who is pushing for 2026 . Anthropic is racing to be the first major foundation-model AI company to go public .