Anthropic Confidentially Files for an IPO Amid a Booming AI Market
Anthropic filed confidentially for an initial public offering with the Securities and Exchange Commission on Monday, positioning itself for a Wall Street debut as early as this fall, per a company statement.
The filing comes days after Anthropic closed a $65B funding round at a $965B valuation, topping rival OpenAI's most recent valuation of $852B for the first time.
Anthropic's revenue run rate has surged to $47B, up from roughly $9B at the end of 2025, a figure that has sharpened investor interest ahead of the offering.
That growth has been driven largely by Claude Code, an AI coding assistant that became a viral hit across Silicon Valley and helped Anthropic establish itself as a genuine competitor to OpenAI.
Anthropic also unveiled a model called Claude Mythos Preview, which carries advanced cybersecurity capabilities and was released to select companies through a program called Project Glasswing.
The company has held discussions with senior members of the Trump administration about those capabilities, per the same report.
A Department of Defense blacklisting of Anthropic's models earlier this year raised concerns among some investors about growth. But demand in the private sector continued to climb, as businesses adopted Claude's coding and enterprise tools.
The Race to Market
Anthropic's filing puts it ahead of rival OpenAI, which was reported to be readying its own confidential submission imminently, per a Wall Street Journal report from May.
SpaceX has officially filed its prospectus and is preparing for a roadshow this week, with a debut planned for next week, per CNBC.
Banks have told both Anthropic and OpenAI that whoever reaches the market first will get to define the new industry and claim first access to large pools of eager AI capital, per the Journal.
Goldman Sachs Group, JPMorgan Chase, and Morgan Stanley are all under consideration for key roles on both listings, per Bloomberg.
Investors in Anthropic's recent funding round include Greenoaks, Dragoneer, Altimeter Capital, and Sequoia Capital, per the Journal.
"This gives us the option to go public after the SEC completes its review," Anthropic said, noting the offering will depend on market conditions and other factors.
Full financial disclosures won't be available until closer to the IPO date, as is standard with confidential filings.
A public listing would also unlock liquidity for early employees and backers. They have watched Anthropic's private valuation climb steeply since the company was founded in 2021 by former OpenAI researchers.
If Anthropic, OpenAI, and SpaceX all go public this year, the wave of offerings could channel significant new capital into charitable organizations. Both AI companies have pledged large share portions to nonprofit causes, per the New York Times.
