Anthropic Plans to One-up SpaceX in Race for AI Dominance

Dow Jones08-21 20:22

In the battle for AI dominance, cash is king.

Thursday, Bloomberg reported that Anthropic was planning to match or exceed SpaceX's record IPO haul. Anthropic didn't immediately respond to a request for comment.

SpaceX sold 555,555,555 shares at $135, raising a record $75 billion in June. Brokers exercised an overallotment option, representing another 83 million shares and $11 billion for Elon Musk's rocket and AI company.

That money will help build AI data centers on the ground and, eventually, above the Earth. Anthropic wants its own AI data centers to meet growing demand for its AI tools.

Anthropic's annual recurring revenue is at $65 billion, according to CNBC. That isn't a 2026 revenue estimate. It reflects the business's current state. Still, it's a big number. Anthropic generated $10 billion in 2025 sales.

That growth has pressured infrastructure. Anthropic is renting computing space from SpaceX for $1.25 billion a month.

AI computing is expensive. AI data centers requiring a gigawatt of electricity to run can cost $50 billion. A gigawatt of compute can cost tens of billions. SpaceX ended the second quarter with 1.4 gigawatts of AI compute capacity. Its stretch goal is 10 gigawatts by the end of 2027.

Wall Street projects SpaceX's capital spending will top $1.3 trillion over the coming five years. That amount of money is why huge IPOs are a necessity.

In the race for AI dominance, who accumulates the most cash might determine who wins.

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Brokers exercised an overallotment option, representing another 83 million shares and $11 billion for Elon Musk's rocket and AI company. \n\n\n     That money will help build AI data centers on the ground and, eventually, above the Earth. Anthropic wants its own AI data centers to meet growing demand for its AI tools. \n\n\n     Anthropic's annual recurring revenue is at $65 billion, according to CNBC. That isn't a 2026 revenue estimate. It reflects the business's current state. Still, it's a big number. Anthropic generated $10 billion in 2025 sales. \n\n\n     That growth has pressured infrastructure. Anthropic is renting computing space from SpaceX for $1.25 billion a month. \n\n\n     AI computing is expensive. AI data centers requiring a gigawatt of electricity to run can cost $50 billion. A gigawatt of compute can cost tens of billions. SpaceX ended the second quarter with 1.4 gigawatts of AI compute capacity. 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