Anthropic Files Confidentially For IPO

Anthropic said Monday that it has submitted a confidential filing for a proposed IPO. The statement was light on details and did not specify the planned offering size or where it will list. For its most recent funding round, a $65 billion Series H funding announced last week, the San Francisco company more than doubled its post-money valuation to a staggering $965 billion. With that round, Anthropic also surpassed its closest rival, OpenAI , in terms of last reported valuation. In February, OpenAI announced it had closed a $110 billion round at an $840 billion post-money valuation. Anthropic has now raised nearly $129 billion from investors across 20 funding rounds, per Crunchbase data. The path to the public markets The IPO filing marks an escalation in the race among generative AI behemoths to make it first to the public market. That said, it could still be while. Before making its market debut, Anthropic must still receive a sign-off from securities regulators on its confidential filing. After that, it will need to submit its public filing, carry out its pre-IPO roadshow, and put the remaining pieces in place for an offering of this presumed magnitude. How long could it take? It’s unclear, of course, but if we use SpaceX as a proxy, things could proceed briskly. SpaceX, which is reportedly seeking a valuation of $1.8 trillion or more, submitted its confidential filing on April 1. The company is expected to begin trading this month, with multiple reports citing June 12 as the target date. If Anthropic follows a similar timeline, we could potentially see a market debut in August. Before that, however, will be the public filing of its IPO prospectus, which will offer a long-awaited peek under the hood at Anthropic’s famously fast revenue growth and the scope of the capital expenditures it has taken to get there. As someone who has used the word boring in IPO market headlines many times in the past, one thing that can assuredly be said is that word no longer applies. Related Crunchbase queries: Global IPOs For Venture-Backed Companies In 2026 Global Venture Funding To AI Startups In 2026 Foundational AI Funding In 2026 Related reading: Anthropic Nears $1T Valuation And Leapfrogs OpenAI On Unicorn Board With $65B Funding Round OpenAI’s New $110B Raise At A $840B Valuation Marks The Largest Venture Deal Ever Illustration: Dom Guzman