Anthropic files confidential IPO as AI valuation nears $1 trillion
The filing places the AI lab in direct competition with OpenAI and SpaceX for public market access, though share count and pricing remain undetermined.
Anthropic, the artificial intelligence laboratory behind the Claude language model, has submitted a confidential registration statement to the U.S. Securities and Exchange Commission for an initial public offering. The company confirmed the filing in a blog post on Monday, marking a significant milestone for the firm as it prepares to transition from private equity to public markets.
The proposed listing follows a substantial $65 billion Series H funding round that closed less than a week prior. Co-led by Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital, Capital Group, Coatue, and D1 Capital Partners, this capital injection pushed Anthropic’s valuation to approximately $965 billion. The company’s revenue run-rate has since surpassed $47 billion, a sharp increase from $9 billion recorded at the end of 2025.
Specific details regarding the number of shares to be offered and the offering price have not yet been disclosed. Anthropic stated that the proposed initial public offering is contingent on market conditions and other factors, leaving the timeline and scale of the transaction open to future developments.
The filing arrives during a competitive period for technology sector listings, often described as a white-hot IPO season. Anthropic’s move positions it alongside rival AI lab OpenAI, which raised a $122 billion round in March at an $852 billion post-money valuation and is expected to file for its own public listing. Additionally, SpaceX is targeting an initial public offering with a valuation of $2 trillion, seeking to raise more than $75 billion.
Founded in 2021 by former OpenAI employees, Anthropic has evolved from an underdog status to becoming an AI powerhouse with top-tier enterprise customers. The firm’s growth has been driven by the capabilities of Claude and its powerful cybersecurity model, Mythos, which has been released on a limited basis. The upcoming listings will test investor interest in artificial intelligence as these major tech players vie for public capital.
