Decart’s $7 billion Anthropic deal could become far more valuable after the IPO
The reported $7 billion acquisition of Israeli AI startup Decart by Anthropic could become significantly more lucrative for its founders and investors when the Claude developer follows through with a blockbuster IPO.
Anthropic is expected to pay most of the consideration in shares rather than cash, meaning Decart shareholders will remain exposed to the value of Anthropic after the acquisition closes.
That could prove particularly valuable given how quickly Anthropic’s valuation has risen. The company was valued at $380 billion in February and $965 billion in May, when it raised $65 billion. Its annual revenue run rate reached $65 billion by the end of July, up from $47 billion in May and roughly $9 billion at the end of 2025.
Now Anthropic is preparing for a potential public offering that could come as soon as the end of August. Bloomberg reported that the company is considering an IPO that could match or exceed SpaceX’s record $75 billion offering.
If Anthropic goes public at a valuation above the level implied by the Decart acquisition, the shares received by Decart’s shareholders could appreciate significantly. The opposite is also true: a weaker IPO would reduce their potential payout.
The structure makes the Decart transaction different from a conventional cash acquisition. Rather than simply locking in a $7 billion exit, its founders and investors are effectively retaining a stake in Anthropic’s next stage of growth.
The deal would also give Anthropic a major foothold in Israel. Decart has developed technology focused on AI efficiency and real-time applications, while Anthropic would gain both its technology and a team in one of the country’s largest AI talent hubs.
Founded in 2023, Decart employs approximately 100 people and has raised $450 million to date.
Decart has hired boutique investment bank Catalyst to advise on the transaction.
Despite the advanced stage of the negotiations, sources close to the deal stressed that no agreement has yet been signed. The disclosure that Decart was exploring a sale may also have prompted other potential buyers to examine the opportunity.
