Anthropic Moves Toward Public Market Debut

Anthropic, the artificial intelligence company behind the Claude chatbot, has confidentially filed for an initial public offering, according to a company blog post published Monday.

The AI firm, currently valued at nearly $1 trillion, submitted a draft registration statement to the U.S. Securities and Exchange Commission as part of the process for a proposed IPO. The company has not yet disclosed the number of shares it plans to offer or the expected price range. Anthropic said the timing and terms of any public offering will depend on market conditions and other relevant factors.

The filing comes less than a week after Anthropic secured $65 billion in Series H funding, a round that pushed the company’s valuation to approximately $965 billion. The financing was co-led by Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital, Capital Group, Coatue, and D1 Capital Partners, attracting a broad group of institutional and strategic investors ahead of a potential public market debut.

Anthropic’s move arrives during an exceptionally active IPO market that also includes the highly anticipated SpaceX offering, which is targeting a valuation of around $2 trillion. SpaceX is expected to raise more than $75 billion through its listing.

A confidential filing allows a company to begin preparing for a public offering without immediately revealing detailed financial information, business risks, or other sensitive internal data. The process allows Anthropic to evaluate its IPO plans outside of public scrutiny. If it proceeds with the listing, the company will later submit an S-1 registration statement that contains comprehensive information about its finances, legal matters, risk factors, and ownership structure, including who controls the majority of the voting power.

The filing also comes as rival AI developer OpenAI continues to attract massive investment. In March, OpenAI raised $122 billion at an $852 billion post-money valuation and is widely expected to pursue its own public offering. The prospect of both companies entering the public markets has raised expectations for a closely watched IPO cycle that could test investor appetite for artificial intelligence companies.

Today, Anthropic is considered one of the most influential players in the AI industry, with a growing list of major enterprise customers. However, the company was once viewed as a challenger to OpenAI in the rapidly developing large language model market. Founded in 2021 by former OpenAI employees, Anthropic spent years operating in the shadow of ChatGPT and its creator.

The company has steadily attracted both customers and investors by expanding its model capabilities and a strong focus on enterprise-grade AI products. That momentum has translated into rapid revenue growth. Anthropic recently reported that its annualised revenue run rate exceeded $47 billion, up from $9 billion at the end of 2025.

Growth could accelerate further as Anthropic expands access to its Mythos model. The company unveiled the model in April but has limited broader availability, warning developers that it had identified thousands of high-severity software vulnerabilities that needed to be addressed before a wider release.

According to a Bloomberg report published Monday, Anthropic is also preparing to provide the European Union’s cybersecurity agency with access to Mythos, citing people familiar with the matter.

As Anthropic moves closer to the public markets, investors will be watching closely to see whether its rapid growth, enterprise adoption, and next-generation AI models can justify one of the largest valuations in the technology sector.