Crypto traders value Anthropic near $2 trillion ahead of Nasdaq IPO

Anthropic filed for a Nasdaq IPO on Oct. 26, with crypto trading platform Liquid pricing its implied valuation at $1.88 trillion. The Claude developer reported $16.3 billion in revenue for the first half of 2026, a 1,300% increase from the prior year, and narrowed its infrastructure cost ratio from $2.51 to 48 cents per dollar of revenue. Despite reporting a $66.3 billion net loss driven by noncash adjustments, the company posted $974 million in operating profit in the June quarter.