Artificial intelligence company Anthropic has formally filed paperwork with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO), becoming the first major generative AI firm to take concrete steps toward listing on public markets.
The company disclosed on Monday that it had submitted a confidential draft registration statement on Form S-1 to the SEC, marking the beginning of the regulatory review process ahead of a potential public offering.
However, Anthropic said key details such as the number of shares to be issued and the pricing range have not yet been determined. The timing of the IPO, it added, will depend on market conditions and regulatory approval.
In its statement, the company noted that the filing gives it flexibility to proceed with a public listing once the SEC 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.
It added that the move is not a final offer to sell securities, stressing that any sale or solicitation will only occur in accordance with U.S. securities laws.
The development represents a major milestone in the artificial intelligence sector and places Anthropic ahead of rival OpenAI in the race to become the first leading frontier AI company to enter public markets.
The filing comes shortly after reports that Anthropic raised $65 billion in fresh funding, pushing its valuation to approximately $965 billion—surpassing OpenAI’s reported valuation of $852 billion as of March 2026.
Anthropic’s rapid expansion has been driven by strong enterprise demand for its AI tools, particularly Claude Code, its widely used software development and coding assistant platform.
Throughout 2026, the company has expanded its product suite, targeting businesses and developers while continuously upgrading its Claude family of AI models.
Company disclosures indicate that Anthropic’s annualized revenue run rate surpassed $47 billion at the start of May, rising sharply from $30 billion in April and roughly $9 billion a year earlier.
The surge highlights the explosive growth of the generative AI industry, which continues to attract massive investment and global enterprise adoption.
The IPO filing further intensifies competition between Anthropic and OpenAI, the two dominant players in the global AI landscape. Both companies are competing for enterprise clients, developer ecosystems, cloud computing resources, and investor capital as demand for AI systems accelerates.
Anthropic has also strengthened partnerships with major technology companies, including Amazon, Apple, and Microsoft, focusing on AI infrastructure, cybersecurity, and enterprise integration.
Alphabet Inc. has also deepened its investment in the startup, committing an additional $1 billion in 2025 following earlier funding rounds, including a $2 billion commitment announced in 2023.
Analysts say Anthropic’s move toward an IPO signals a new phase in the commercialization of artificial intelligence, as leading firms transition from private funding dominance to public market accountability and expansion.
The SEC will now review the filing before any public offering can proceed, with market conditions expected to play a key role in determining the final timing.
