Anthropic confidentially files for IPO after $965B valuation

Anthropic Confidentially Files for IPO at $965 Billion Valuation

Anthropic announced Monday that it has confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission, taking its first formal step toward a potential initial public offering of its common stock. The filing positions the Claude AI maker ahead of rival OpenAI in the race to go public among the trio of mega-IPOs expected this year.devdiscourse

A Record-Breaking Run-Up

The confidential filing comes just days after Anthropic closed a $65 billion Series H funding round that valued the company at $965 billion post-money, surpassing OpenAI’s approximate $900 billion valuation. The round was co-led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, with participation from institutional investors including Baillie Gifford, Blackstone, Brookfield, and Fidelity Management & Research. Strategic infrastructure partners Samsung, SK Hynix, and Micron also joined, alongside a previously committed $5 billion from Amazon.reuters

Anthropic has not yet determined the number of shares or offering price, and said the IPO remains contingent on market conditions and SEC review. Under Rule 135 of the Securities Act of 1933, the company is not obligated to disclose further details until the registration becomes effective.beincrypto

The $3 Trillion IPO Wave

Anthropic’s filing adds to what is shaping up as a historic year for public offerings. SpaceX publicly filed its S-1 in May and is targeting a listing around June 12 at a valuation exceeding $1.75 trillion. OpenAI confidentially filed its own S-1 on May 22 and is eyeing a September debut. Together, the three companies are seeking combined valuations of roughly $3.6 trillion.indmoney

Bankers expect Anthropic to raise more than $60 billion in its IPO, according to The Information, with a listing potentially arriving as early as October. Both OpenAI and Anthropic are targeting a window between Labor Day and Thanksgiving for their roadshows, according to Axios.axios

From Startup to Near-Trillion-Dollar Company

Anthropic’s trajectory has been steep. The company was valued at roughly $60 billion in early 2025, climbed to $380 billion by early 2026, and now approaches the trillion-dollar mark. Its annualized revenue run rate is estimated at approximately $44 billion as of May 2026. The company also committed to paying SpaceX $1.25 billion per month through 2029 for cloud computing infrastructure, underscoring the capital intensity of frontier AI development.reddit

The IPO, if completed, would rank among the largest in history. Alphabet, which backed Anthropic through Google, may face questions about how it accounts for its stake once Anthropic trades publicly.investors