Anthropic, the AI lab behind Claude, has filed confidentially for an initial public offering at a valuation approaching $1 trillion, the company said in a blog post Monday.
The company has submitted a draft registration statement to the U.S. Securities and Exchange Commission for a proposed initial public offering. Anthropic has yet to disclose the number of shares or set a price, saying the proposed offering will depend on market conditions and other factors.
The filing comes less than a week after Anthropic raised $65 billion in a Series H funding round that pushed its valuation to $965 billion. The round was co-led by Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital, Capital Group, Coatue and D1 Capital Partners, and attracted a wave of institutional and strategic investors anticipating the IPO.
The confidential filing lands in an already white-hot IPO season that includes SpaceX’s initial public offering, which is targeting a $2 trillion valuation and seeking to raise more than $75 billion. A confidential IPO filing allows a company to prepare for a potential public offering without publicly disclosing detailed financial information, risks or internal business details. Anthropic will evaluate the IPO privately, away from public scrutiny. If it follows through, the company will file a fuller S-1 registration document containing detailed information on financials, legal matters, risks and voting power distribution.
The Anthropic filing also comes as rival OpenAI continues to raise capital, including a $122 billion round in March at an $852 billion post-money valuation, and prepares for its own IPO. OpenAI is widely expected to file for an initial public offering, setting up a head-to-head IPO contest between the world’s two largest AI labs that will test the market’s appetite for AI exposure.
Once seen as a distant competitor to OpenAI’s ChatGPT, Anthropic has become an AI powerhouse with top-tier enterprise customers. The company was founded in 2021 by former OpenAI employees. Growing capabilities and a focus on enterprise services have translated to rapid revenue growth — the company said recently that its revenue run-rate had surpassed $47 billion, up from $9 billion at the end of 2025.
That growth rate could accelerate further as Anthropic makes its most advanced model, Mythos, more widely available. Anthropic previewed Mythos in April but has kept access restricted, warning software developers that the model had discovered thousands of high-severity bugs that would need to be fixed before broader release. The lab is also poised to give the European Union’s cybersecurity agency access to Mythos, Bloomberg reported Monday morning, citing anonymous sources.
