Anthropic's Earliest Investors Realize Extraordinary Paper Returns Ahead of $2 Trillion IPO

Early-stage and follow-on investors in Anthropic are already sitting on staggering paper returns as the AI startup prepares for what could become the largest IPO in history at a potential $2 trillion valuation this October. The company's most recent private valuation hit $965 billion in May 2026, up from $5 billion just three years earlier in its Series C round, creating windfall gains across its investor base.