Annualized revenue for the AI startup is projected to exceed $110 billion by the end of 2026, according to investors cited by the Wall Street Journal. This growth follows a surge from $1 billion at the end of 2024 to $65 billion in July. The company plans to raise up to $100 billion in an initial public offering targeting a $2 trillion valuation, a figure that would set a historic benchmark for any public listing. The debut is currently scheduled for November.

The listing was delayed from October to allow the company to share third-quarter financials and a potential new model launch to counter OpenAI's GPT-6 Astra. This rival accounts for 13% of enterprise AI spending tracked by Ramp, compared with 8% for Anthropic's Claude Fable. The startup intends to amass 5 GW of computing power by year-end and plans to double that capacity to 10 GW by 2027, though the IPO timing may still shift due to U.S. midterm elections.