Anthropic has confidentially filed for an initial public offering, setting the stage for what could become one of the largest stock market debuts in history and intensifying competition with rivals OpenAI and SpaceX.
The artificial intelligence company announced on Monday that it had submitted draft registration paperwork to the US Securities and Exchange Commission, giving it the option to proceed with a public listing once the regulatory review process is complete.
“This gives us the option to go public after the SEC completes its review,” Anthropic said in a statement on Monday. “The proposed initial public offering will depend on market conditions and other factors.”
The filing comes days after Anthropic completed a $65 billion funding round that valued the company at $900 billion before the new capital was included.
Investors in the round included Capital Group, Baillie Gifford, venture capital firms, and strategic partners.
IPO race heats up among AI leaders
Anthropic’s filing adds momentum to what could become a landmark period for public markets.
OpenAI, which was recently valued at $852 billion, is reportedly preparing its own confidential IPO filing.
Meanwhile, Elon Musk’s SpaceX has already published its prospectus and is targeting a public listing at a valuation of approximately $1.75 trillion.
If all three companies proceed with their offerings, they would rank among the largest public listings ever, alongside the 2019 debut of Saudi Aramco.
The offerings are expected to serve as a major test of investor appetite for artificial intelligence-focused businesses and other high-growth technology companies.
Anthropic appears to have moved ahead of OpenAI in the race to reach public markets.
The company said the number of shares to be offered and the pricing of the proposed IPO have not yet been determined.
“The number of shares to be offered and the price have not yet been set,” the company said in a blog post on Monday.
Rapid growth boosts valuation
Founded in 2021 by former OpenAI executives and researchers, Anthropic has emerged as one of the most prominent players in the AI sector.
The company is best known for its Claude family of AI models, including its coding-focused product Claude Code.
Demand for Anthropic’s products has accelerated sharply this year.
The company said in May that its revenue run rate had reached $47 billion, compared with annual revenue of $10 billion last year.
The company has benefited from growing corporate demand for AI tools that help automate coding and other business tasks.
Claude advances attract Wall Street attention
Anthropic has also attracted attention from investors and policymakers through advances in its AI models.
Earlier this year, the company unveiled Claude Mythos Preview, a model with advanced cybersecurity capabilities.
Anthropic released the technology to a limited group of companies through an initiative known as Project Glasswing and has been discussing its capabilities with senior members of the Trump administration.
The company’s public market ambitions come amid intense competition across the AI industry, with Anthropic and OpenAI increasingly challenging each other on technology, commercial growth, fundraising, and now plans for public listings.
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