Anthropic has confidentially filed for an initial public offering with the U.S. Securities and Exchange Commission, positioning itself to become one of the largest stock market debuts in history and escalating its rivalry with OpenAI and SpaceX. The company submitted draft registration paperwork on Monday, giving it the option to go public once the SEC review is complete.
“This gives us the option to go public after the SEC completes its review,” Anthropic stated, adding that the offering would depend on market conditions. The filing comes just days after the AI firm closed a massive $65 billion funding round that valued it at $965 billion post-money, surpassing OpenAI’s $852 billion valuation in March.
The IPO race among leading AI companies is intensifying. OpenAI is reportedly preparing its own confidential filing, while SpaceX has already published its prospectus and is targeting a roughly $1.75 trillion valuation. If all three proceed, they would rival the 2019 Saudi Aramco debut as record-breaking listings. Anthropic has moved ahead of OpenAI in the filing timeline, though the number of shares and pricing remain undetermined.
Founded in 2021 by former OpenAI executives, Anthropic is best known for its Claude family of models, including Claude Code, a coding-focused tool that has driven rapid revenue growth. The company’s annual revenue run rate hit $47 billion in May, up sharply from $9 billion a year earlier. Its enterprise business and cybersecurity advancements, such as the limited-release Claude Mythos Preview with advanced vulnerability detection, have attracted investor and policymaker attention.
CEO Dario Amodei’s safety-first philosophy has created friction with the Trump administration over potential government use, but the company’s commercial momentum has continued. The IPO filing marks a major milestone for Anthropic and a significant test of public market appetite for high-growth AI companies.
