Anthropic confidentially filed for a US IPO, moving ahead of OpenAI in the race to public markets.
AI News
Anthropic has confidentially filed for a US initial public offering (IPO), its first formal step toward the stock market. The move puts the firm ahead of rival OpenAI in the race to go public.
The company said on June 1 that it submitted a draft S-1 registration statement to the Securities and Exchange Commission (SEC). The filing gives Anthropic the option to proceed once the SEC finishes its review, though any offering will depend on market conditions.
Anthropic has not set the number of shares or a price range. The announcement was made under Rule 135 of the Securities Act, which means it does not count as an offer to sell stock.
The maker of the AI coding assistant Claude Code raised $65 billion in late May. The round valued it at $965 billion and placed it ahead of OpenAI. The company said its run-rate revenue passed $47 billion earlier in the month.
Anthropic's valuation has more than doubled since February, when a $30 billion round valued the firm at $380 billion. Its latest funding drew backers including Blackstone, Brookfield, D1 Capital Partners, GIC, General Catalyst and Insight Partners.
Race for AI Public Markets
Reuters reported in May that OpenAI was preparing its own confidential filing, with the Wall Street Journal pointing to a September listing led by Goldman Sachs and Morgan Stanley. The filings follow SpaceX's offering, which seeks a $1.75 trillion valuation and could begin trading within two weeks.
Kat Liu, a vice president at IPO research firm IPOX, said filing soon after SpaceX lets Anthropic tap strong investor interest in AI while the window remains open. PitchBook senior analyst Harrison Rolfes said OpenAI may gain by watching how investors react to Anthropic's audited financials before pricing its own deal.
D.A. Davidson's Gil Luria said the firms are rushing to list before Wall Street capital thins out. The IPO market has rebounded, with companies raising $87.5 billion through May 26, the highest year-to-date global figure since 2021, according to Dealogic.
At a valuation near $1 trillion, Anthropic would rank among the largest members of the S&P 500. On Myriad, a prediction market run by Decrypt's parent company, traders gave Anthropic 58% odds of reaching public markets before OpenAI, a reversal from OpenAI's earlier lead.
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