san francisco — Artificial intelligence company Anthropic is headed toward going public on Wall Street, the latest chapter in its meteoric rise from little-known research lab to one of the leading AI companies valued at $965 billion.
Anthropic said Monday it has made a confidential filing with the U.S. Securities and Exchange Commission regarding a proposed initial public offering of its common stock.
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“This gives us the option to go public after the SEC completes its review,” Anthropic said in a brief statement. “The proposed initial public offering will depend on market conditions and other factors.”
The company said that it has not yet decided on the number or price of shares that will be offered.
Anthropic said last week it had raised $65 billion in private funding that will push its valuation to $965 billion, a huge number that makes the maker of the five-year-old Claude chatbot one of the most valuable startups in the world.
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The announcement saw Anthropic overtake its main competitor, ChatGPT maker OpenAI, both in terms of market cap and reported revenue. Anthropic said it now generates $47 billion in annual revenue from selling its technology to people and organizations that use Claude to write code and do other work and personal tasks on their behalf.
Anthropic was founded in 2021 by former OpenAI leaders, and now the two AI companies, along with Elon Musk’s Rocket and AI company SpaceX, are expected to go public. All three lost more money than they made, raising fears of an AI bubble.
Wedbush Securities analyst Dan Ives said Anthropic’s move “represents a big step for Anthropic to get ahead of OpenAI” and “open the floodgates to the IPO market, which has been relatively dormant for a few years, with these three major conglomerates preparing to go public later this year.” Anthropic also last week launched its latest AI model, called Claude Opus 4.8, and boasted that it was better at programming and other professional work than previous models.
Claude’s growing popularity has left OpenAI playing catch-up despite its early progress in making ChatGPT a household name that has led to a commercial AI boom.
OpenAI last reported in March that it was headed toward an $852 billion valuation following a $122 billion fundraising round. It has not yet reported filing of IPO papers with the Securities and Exchange Commission.
SpaceX was valued at about $800 billion last year, but its value rose to $1.25 trillion after the space exploration company merged with Musk’s xAI company in February. Musk recently announced plans for one of the largest stock sales ever, and he will be able to roll out the offering to investors as soon as this week.
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