Anthropic surpasses SpaceX as top contender for largest IPO in 2026

Photo: Forest Katsch / Pexels Anthropic has overtaken SpaceX on Polymarket as the favored contender for the largest IPO by market cap in 2026. This shift follows Anthropic’s announcement of a $30 trillion total addressable market and a significant $45 billion compute deal. The Polymarket activity reflects market participants’ growing confidence in Anthropic’s potential IPO valuation exceeding the current record set by SpaceX, which went public in June 2026 with a valuation of approximately $1.77 trillion. Anthropic’s recent private funding round valued the company at $965 billion, and discussions are underway regarding a potential IPO valuation around $2 trillion. Key Takeaways Market activity suggests Anthropic is now viewed as the leading candidate for the largest IPO by market cap in 2026. Anthropic’s recent announcements are consistent with expectations of a higher IPO valuation, surpassing SpaceX’s record. Polymarket’s pricing indicates that participants see a higher probability of Anthropic achieving an IPO valuation beyond $1.25 trillion. What to Watch Market participants will closely monitor Anthropic’s next steps, including any updates on its IPO filing with the U.S. Secur...