AI powerhouse Anthropic announced on Monday that it has confidentially filed its IPO prospectus with the SEC, establishing the framework for what could become a historic IPO potentially valuing the company at more than $1 trillion.
CNBC reports that Anthropic said in a statement that the confidential filing provides flexibility for a future public debut. “This gives us the option to go public after the SEC completes its review,” Anthropic said. “The proposed initial public offering will depend on market conditions and other factors.”
The move places Anthropic ahead of competitor OpenAI in the race to public markets. OpenAI has been preparing its own confidential filing, according to reports. Meanwhile, Elon Musk’s SpaceX has already progressed further in its IPO process, having officially filed its prospectus and scheduled a roadshow for this week with plans to begin trading in the next few weeks.
A confidential prospectus submission does not commit Anthropic to a specific timeline for its public offering. Regulatory requirements mandate only that the company’s official prospectus be distributed to investors at least 15 days before any roadshow begins. For comparison, SpaceX submitted its confidential filing on April 1 and released its public prospectus on May 20.
Anthropic traces its origins to 2021, when a faction of executives and researchers departed from OpenAI amid disagreements over the company’s trajectory. The startup has built its reputation around the Claude family of AI models, which underpin products including Claude Code, a widely used coding assistant.
The company has demonstrated remarkable expansion throughout 2026. In May, Anthropic disclosed that its revenue run rate had surged to $47 billion, marking a dramatic increase from the $10 billion in annual revenue it reported the previous year. The company’s valuation has climbed correspondingly, with a funding round completed last week establishing a $965 billion valuation. That figure exceeds OpenAI’s $852 billion valuation from late March. The IPO could exceed a valuation of $1 trillion based on these recent valuations.
Anthropic attracted significant attention from both financial and government circles earlier this year with the introduction of Claude Mythos, an AI model featuring sophisticated cybersecurity capabilities. The company distributed the model to a limited set of companies through Project Glasswing, a cybersecurity initiative, and has held discussions with senior officials in the Trump administration regarding its potential applications.
The enthusiasm surrounding Mythos alleviated concerns among some investors and executives who had feared that Anthropic’s growth trajectory might falter following a dispute with the Department of Defense. The Pentagon had blacklisted Anthropic’s models after negotiations between the parties broke down.
Despite defense contractors severing ties with Anthropic to adhere to the DOD directive, the company’s private sector expansion actually intensified as additional enterprises adopted its models and AI coding tools. The consumer market responded similarly, with Claude ascending to the top position on Apple’s ranking of leading U.S. free applications in late February.
Read more at CNBC here.
Lucas Nolan is a reporter for Breitbart News covering issues of AI, free speech, and online censorship.
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