Anthropic files to go public

Anthropic, the AI lab behind the Claude model, has confidentially filed for an initial public offering (IPO). This follows a recent Series H funding round that secured $65 billion, elevating the company's valuation to $965 billion. The proposed IPO is contingent on market conditions and other factors, with the company yet to disclose the number of shares or pricing. The filing comes amidst a vibrant IPO season, including SpaceX's anticipated public offering targeting a $2 trillion valuation. Investors are keenly watching the AI sector, as rival OpenAI also prepares for its own IPO, setting the stage for a competitive market.

Anthropic was founded in 2021 by former OpenAI employees and was initially considered an underdog in the large language model space. However, it has since emerged as a significant player, attracting substantial investment and enterprise customers. The company's focus on enterprise services and its growing capabilities have led to remarkable revenue growth, with its revenue run-rate surpassing $47 billion, up from $9 billion at the end of 2025. This growth trajectory is expected to accelerate as Anthropic prepares to make its Mythos model more widely available, following a preview in April.

A confidential IPO filing allows companies to prepare for a public offering without immediately disclosing sensitive financial and business details. If Anthropic proceeds, it will later file an S-1 registration document providing comprehensive information about its financials, legal matters, risks, and voting power distribution. The company's strategic move to go public underscores the increasing maturity and investor confidence in the generative AI market.