Anthropic files confidential S-1, becoming world’s most valuable startup
The $965 billion valuation follows a $65 billion capital raise, positioning the company ahead of rival OpenAI and preceding SpaceX’s planned June listing.
Anthropic has confidentially submitted Form S-1 to the U.S. Securities and Exchange Commission, formally initiating the process for an initial public offering. The filing marks a significant milestone in the competitive landscape between major artificial intelligence developers, confirming the company’s intent to transition from a private entity to a publicly traded firm.
Following a substantial capital raise of $65 billion last week, Anthropic holds a post-money valuation of $965 billion. This valuation establishes the company as the world’s most valuable startup, surpassing its primary rival, OpenAI, which is valued at $852 billion. The move underscores the intense investor interest in the artificial intelligence sector and reshapes the market standing of the leading players in the industry.
The submission comes less than two weeks before SpaceX is scheduled to file for its own initial public offering on 12 June. Elon Musk’s aerospace company is expected to raise $80 billion in its public debut, a figure that would make it the largest IPO in history. The proximity of these filings highlights a broader trend of major technology and space enterprises navigating the path to public markets simultaneously.
Anthropic and SpaceX have also entered a newly minted commercial arrangement under which Anthropic pays $15 billion per year to utilise SpaceX data centres. This financial relationship adds a layer of complexity to the upcoming disclosures, as the long-term impact of such significant annual payments on Anthropic’s post-IPO financials remains to be fully detailed in public records.
Key operational details, including potential business risks, executive compensation, and comprehensive financials, will not be made public immediately due to the confidential nature of the filing. These details are typically released later in the regulatory review process. The announcement follows recent legal developments in which a judge dismissed all claims in OpenAI’s high-profile legal battle with Musk due to the statute of limitations.
