Anthropic's $100B IPO could become largest in history

Anthropic is set to launch an IPO that could surpass SpaceX's record-breaking $85.7 billion fundraising, becoming the largest capital markets event in history, despite the AI company failing to produce an annual profit. The company, behind the Claude AI assistant, plans to raise about $100 billion on the Nasdaq as soon as next month, after posting a $114 billion loss in the first half of 2026. Its valuation was recently revised down to $1.5 trillion, though third-quarter revenue reached $16 billion. Analysts note Anthropic has overtaken OpenAI in business adoption with a workforce of 5,300, but heavy spending on computing power and rising debt costs pose risks. Fund managers warn the AI trade could collapse if demand doesn't justify investment, with Australians able to apply for shares via Macquarie Capital.