Anthropic has confidentially submitted a draft S-1 registration statement to the U.S. Securities and Exchange Commission (SEC), taking a major step toward a possible public listing as investor appetite around artificial intelligence continues to surge.
The company did not disclose the number of shares it plans to offer or the expected pricing, while also clarifying that the IPO will depend on SEC review, market conditions, and other factors. Here’s what happened.
TL;DR
- Anthropic has confidentially filed paperwork for a proposed U.S. IPO.
- The company did not reveal the offer size, share count, or pricing.
- The filing follows Anthropic’s $65 billion Series H round at a $965 billion post-money valuation.
- The move could put Anthropic ahead of OpenAI in the race to reach public markets.
- Anthropic’s growth has been powered by Claude, Claude Code, enterprise AI demand, and major infrastructure partnerships.
Anthropic Moves Closer To Wall Street
Anthropic, the AI company behind Claude, has submitted confidential IPO paperwork to the SEC, confirming that it now has the option to go public once the regulator completes its review.
“Today, Anthropic, PBC confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission for a proposed initial public offering of our common stock,” the company said in its official announcement. It added, “The proposed initial public offering will depend on market conditions and other factors.”
The company further noted that “the number of shares to be offered and the price have not yet been set,” meaning investors still do not know how much Anthropic plans to raise or what valuation it may seek in the public market.
Reuters reported that the move places Anthropic in a tighter race with OpenAI, as both AI leaders look toward Wall Street at a time when investors continue to pour money into AI infrastructure, models, and applications. The filing could give Anthropic an early advantage if market conditions remain favorable.
Why Anthropic’s IPO Matters
The confidential filing comes only days after Anthropic announced a massive $65 billion Series H funding round at a $965 billion post-money valuation. The round was led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, with participation from major financial and strategic investors.
Anthropic said its run-rate revenue crossed $47 billion earlier in May 2026, showing how quickly demand for Claude has grown among businesses and developers. The company said the fresh capital will be used to advance safety and interpretability research, expand compute capacity, and scale products and partnerships.
“Claude is increasingly indispensable to our growing global community of customers, and we work tirelessly to make tools like Claude Code and Cowork more helpful, more powerful, and more adaptable to their needs,” said Krishna Rao, Chief Financial Officer of Anthropic. “This funding will help us serve the historic demand we are experiencing, stay at the research frontier, and bring Claude to more of the places where work happens.”
Anthropic’s earlier Series G announcement also showed how quickly Claude Code has become central to its growth. In February 2026, the company said its run-rate revenue had reached $14 billion, while Claude Code alone had crossed $2.5 billion in run-rate revenue after launching publicly in May 2025.
The company also said more than 500 customers now spend over $1 million annually with Anthropic, while eight of the Fortune 10 are Claude customers.
The OpenAI Factor
Anthropic was founded in 2021 by former OpenAI employees and has grown into one of OpenAI’s strongest rivals. Its focus on enterprise AI, coding tools, model safety, and cloud availability has helped it attract customers across major industries.
Claude is available across Amazon Web Services, Google Cloud, and Microsoft Azure, giving Anthropic a multi-cloud footprint that could appeal to enterprise customers and public-market investors alike.
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Meanwhile, Reuters and APnews reported that Anthropic’s filing could make it one of the most closely watched AI listings, especially as OpenAI is also expected to explore a public offering. For investors, the IPO could become a major test of whether private AI valuations can hold up under public market scrutiny.
For now, Anthropic has not committed to a launch date. However, its confidential filing makes one thing clear: the AI race is no longer limited to model launches and enterprise adoption. It is also moving rapidly toward the public markets.
