Anthropic files confidentially for IPO ahead of OpenAI in public market race
AI company Anthropic has confidentially filed for a US initial public offering, positioning itself ahead of OpenAI in the competition to become one of the first major AI firms to enter public markets.
Artificial intelligence company Anthropic has confidentially filed for a US initial public offering (IPO), becoming the latest major AI firm to move toward public markets and taking an early lead over rival OpenAI. The filing marks a major milestone for the AI industry as investors prepare to evaluate some of the sector's most highly valued companies through public market listings.
Key highlights
- Anthropic has confidentially filed for a US IPO
- The company moved ahead of rival OpenAI in the race to public markets
- Anthropic was valued at $965 billion in its latest funding round
- Investors are closely watching how public markets value AI companies
- The IPO market has seen renewed momentum in 2026
What happened?
Anthropic announced on Monday that it had confidentially submitted paperwork for a US IPO. The company did not disclose the size of the offering or other financial details.
Confidential filings allow companies to begin the IPO process without immediately revealing sensitive financial information to competitors or the public.
Anthropic is best known for developing Claude Code, its agentic coding assistant, and has emerged as one of the fastest-growing AI companies globally.
Why this matters
The planned listing could become one of the most closely watched IPOs in recent years.
Investors and analysts view the offering as a major test of public market demand for artificial intelligence companies, which have attracted massive private-market valuations amid the global AI boom.
The IPO could also influence how future AI companies are valued and how investors assess revenue growth, profitability and long-term potential within the sector.
Anthropic moves ahead of OpenAI
Anthropic's filing comes after reports that OpenAI was preparing its own confidential IPO submission.
By filing first, Anthropic gains an opportunity to become one of the first major frontier AI companies to test investor appetite in public markets.
Industry analysts noted that the move may give Anthropic an early advantage in shaping investor expectations around AI company valuations.
At the same time, some observers suggested OpenAI may benefit by watching investor reactions before pursuing its own public offering.
Valuation continues to climb
Anthropic's most recent funding round in late May valued the company at approximately $965 billion.
The valuation more than doubled from the $380 billion valuation reported in February following an earlier fundraising round.
The company has attracted backing from several major investors, including:
- Blackstone
- Brookfield
- D1 Capital Partners
- GIC
- General Catalyst
- Insight Partners
Race for AI dominance intensifies
Anthropic and OpenAI remain among the most influential companies driving the rapid expansion of artificial intelligence.
The two firms have become central players in a broader competition involving:
- AI model development
- Computing infrastructure
- Talent recruitment
- Enterprise AI adoption
The rapid growth of AI technologies has reshaped investment trends and pushed AI-related companies to some of the highest valuations in global markets.
Broader IPO market gains momentum
Anthropic's filing comes amid a resurgence in global IPO activity.
According to Dealogic data cited in the report, companies raised $87.5 billion through public offerings globally by May 26, marking the strongest year-to-date performance since 2021.
Several major listings are also expected to reach public markets in the coming months, adding to competition for investor capital.
Analysts have noted that large offerings from AI companies and other high-growth businesses could considerably influence capital flows across equity markets.
What happens next?
Anthropic will continue working through the IPO review process with US regulators before formally launching its public offering.
The company is expected to disclose additional financial details in future filings.
Investors will also be watching whether OpenAI proceeds with its own IPO plans and how public markets respond to the first wave of large-scale AI company listings.
The outcome of Anthropic's offering could play a key role in setting valuation benchmarks for the broader AI industry.
FAQs
Q1: What is Anthropic?
Anthropic is an artificial intelligence company known for developing Claude, a family of AI models and coding assistants.
Q2: Has Anthropic officially launched its IPO?
No. The company has confidentially filed for an IPO, which is an early step in the public listing process.
Q3: How much is Anthropic worth?
Anthropic was valued at approximately $965 billion in its latest funding round.
Q4: Why is the IPO important?
The offering could provide one of the first major public-market tests of investor demand for high-growth AI companies.
Q5: Is OpenAI also planning an IPO?
Reports have indicated that OpenAI is preparing a confidential IPO filing, although the company has not announced a formal timeline for a public listing.
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