The race to dominate the artificial intelligence industry has entered a new phase after AI startup Anthropic formally began its path to a public listing, positioning itself as the first major generative AI company to list on the stock market.
The company announced on Monday that it had confidentially submitted a draft registration statement to the U.S. Securities and Exchange Commission (SEC), marking the first official step toward a potential initial public offering (IPO).
While key details of the offering, including the number of shares and expected price range, remain undisclosed, the filing gives Anthropic the flexibility to launch an IPO once regulatory reviews are completed and market conditions are deemed favourable.
The move is being viewed as a landmark moment for the rapidly growing artificial intelligence sector, which has attracted unprecedented investor interest over the past three years.
In a statement released by the company, Anthropic confirmed the filing while emphasising that the process is still in its early stages.
“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.
“This gives us the option to go public after the SEC completes its review. The proposed initial public offering will depend on market conditions and other factors.”
The announcement immediately drew attention across the technology and investment communities because it places Anthropic ahead of rival OpenAI in the race to become the first frontier AI company to debut on public markets.
The rivalry between the two firms has intensified as businesses worldwide increasingly adopt AI-powered tools for software development, customer service, content creation, research, and automation.
Anthropic’s rise has been particularly striking.
Founded by former OpenAI executives, the company has rapidly emerged as a leading player in artificial intelligence, driven by the success of its Claude family of AI models and enterprise-focused products.
Its coding platform, Claude Code, has become a major growth driver, helping the company attract businesses seeking AI tools to improve software development workflows and productivity.
The company’s momentum has translated into extraordinary financial growth.
According to company disclosures, Anthropic’s annualised revenue run rate surpassed $47 billion at the beginning of May, up from approximately $30 billion the previous month and around $9 billion a year earlier.
Those figures highlight the explosive pace at which demand for AI services continues to expand globally.
The IPO filing follows reports that Anthropic recently secured fresh funding, valuing the company at approximately $965 billion, exceeding OpenAI’s last reported valuation of $852 billion.
If accurate, the valuation would place Anthropic among the most valuable private technology companies in the world and underscore investor confidence in the future of generative AI.
The company has also strengthened its position through partnerships with some of the world’s largest technology firms.
Collaborations with Amazon, Apple, and Microsoft have helped expand Anthropic’s reach across enterprise AI deployment, cloud infrastructure, and cybersecurity.
Meanwhile, Alphabet Inc. has continued to deepen its commitment to the startup.
In 2025, Google’s parent company reportedly invested an additional $1 billion in Anthropic, building on previous funding agreements, including a $2 billion commitment announced in 2023.
The IPO filing arrives at a pivotal moment for the AI industry.
Competition among leading developers has shifted beyond building powerful models to securing enterprise customers, attracting developers, expanding computing capacity, and convincing investors that their platforms can generate sustainable, long-term revenue.
For Anthropic, going public could provide access to even greater financial resources while giving investors a direct opportunity to participate in one of the most transformative technology sectors of the modern era.
Although there is still no timeline for the offering, the filing signals that the company is preparing for its next chapter.
If Anthropic ultimately completes its IPO, it would not only mark a historic milestone for the company. Still, it could also become one of the most closely watched technology listings in recent memory, setting the stage for a new era in the business of artificial intelligence.
