Artificial intelligence company Anthropic has taken a major step toward going public, confirming a confidential filing with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of its common stock.

The filing gives the company flexibility to proceed with a public listing once regulatory review is complete, though timing will depend on market conditions and internal strategic considerations.

At this stage, Anthropic has not disclosed the number of shares it intends to offer or the expected price range. The move signals growing momentum among leading AI firms preparing to enter public markets.

The development comes shortly after Anthropic secured $65 billion in private funding, pushing its valuation to an estimated $965 billion. This positions the company, best known for its Claude chatbot, as one of the most highly valued private startups globally.

The Series H round reportedly included participation from major investors such as Altimeter Capital, Dragoneer, Greenoaks, Sequoia Capital, Capital Group, Coatue, and D1 Capital Partners. Anthropic was founded in 2021 by former OpenAI leaders, and its rapid valuation growth reflects intensified investor competition in the AI sector.

AI Valuations and IPO Race Intensify Across Silicon Valley

Anthropic’s IPO trajectory is unfolding amid a broader surge in artificial intelligence market activity, with comparisons increasingly drawn between top AI firms competing for public market dominance. Industry observers note that Anthropic may now have a potential “first mover” advantage over rivals, as speculation grows that other major players could follow into public listings.

The filing arrives during an active IPO climate that also includes discussions around potential listings tied to SpaceX and its reported strategic expansion plans alongside AI-focused ventures. Analysts describe the current environment as reminiscent of earlier technology booms, where investor enthusiasm accelerates listings across the sector.

Financially, Anthropic is reporting strong momentum, with an annualized revenue run-rate of $47 billion, rising sharply from earlier estimates such as $9 billion. The company generates revenue primarily through enterprise and consumer usage of Claude, which is used for coding, writing, and general productivity tasks.

However, concerns persist across the sector regarding profitability, as many AI companies continue to operate at significant losses despite rapid revenue expansion. Analysts suggest that Anthropic’s IPO move could help stabilize its market position while also testing investor appetite for high-valuation AI firms in a cautious macroeconomic environment.

Beyond financial developments, Anthropic continues to expand its technical capabilities, recently releasing Claude Opus 4.8 with improved coding and professional performance features. The company also previewed its Mythos model in April, although access has been restricted to developers after internal testing revealed thousands of high-severity bugs requiring fixes.

Reports indicate that the European Union’s cybersecurity agency may gain access to Mythos as development continues. Industry experts argue that sustained demand for AI systems may push the sector closer to artificial general intelligence milestones, while emphasizing that IPO transparency could introduce stronger accountability through quarterly reporting and public scrutiny.