What Makes Anthropic Compelling?
Anthropic, the company behind Claude, is drawing investor interest ahead of its widely anticipated IPO. Its enterprise focus has helped drive exceptional growth. Anthropic’s annualized revenue run rate rose from approximately $9 billion at the end of 2025 to more than $65 billion by the end of Jul 2026. That is more than sevenfold growth in seven months, helping explain investor interest ahead of its anticipated IPO.
Anthropic Revenues Continue to March Higher
Annualized revenue run rate ($ billion)
What Is Anthropic's Rumored Valuation?
Anthropic’s May 2026 funding round valued the company at $965 billion.7 By Oct 5, trading in Hyperliquid’s Anthropic-linked contract implied a valuation of approximately $2.09 trillion.8 That contract reflects traders’ expectations and does not confer ownership of Anthropic shares. LAZR’s Anthropic position was marked at an implied valuation of $1.39 trillion as of Oct 5, approximately 33% below the Hyperliquid-implied valuation.9
How to Invest in LAZR
Tema’s LAZR ETF is the only ETF with more than 10% pre-IPO exposure to Anthropic.10 LAZR’s total expense ratio is 0.75%, with no incremental fees above its expense ratio. Anthropic exposure is held through a special purpose vehicle (SPV)—an established way to hold private-company investments.
More Anthropic Research & Investor Educatoin
How to Invest in Anthropic Pre-IPO