Anthropic has overtaken SpaceX in Polymarket odds for the largest initial public offering of 2026, as market participants assess whether the AI company could exceed SpaceX’s record valuation of approximately $1.77 trillion. The proposition has attracted $5.6 million in trading activity, including more than $835,000 wagered on Anthropic and more than $820,000 on SpaceX. Anthropic recently disclosed a $30 trillion total addressable market and a $45 billion compute deal, while a private funding round valued the company at $965 billion and discussions have considered a potential IPO valuation of around $2 trillion. Polymarket pricing indicates that participants see a higher probability of Anthropic listing above $1.25 trillion. SpaceX went public in June 2026 at a $150 share price and an approximate $1.77 trillion valuation, with its stock later falling to around $139 after reaching as low as $106 earlier this month. Anthropic has not set an IPO price. Investors will watch for an SEC filing, pricing and timing updates, further financial and partnership disclosures, broader technology IPO conditions and regulatory developments.