Anthropic Privately Files For What Could Be Its Largest IPO

Anthropic was secretly sent public debut on Monday, the first step in what could be a blockbuster debut $965 billion company. Booking with US regulators is another thing that looks like a A big year for IPOs like artificial intelligence laboratories compete for funding for their expensive research.

Anthropic announced the reservation in two unsigned paragraphs blog postdetermining how much money they want to raise—and at what cost—has not been established. The company said the timing of the IPO “will depend on market conditions and other factors.” The announcement comes just days after Anthropic unveiled a $65 billion money cycle.

The company declined to comment beyond its blog.

Anthropic, led by CEO Dario Amodei, joins the crowded field. OpenAI appears to be looking ahead to its public offering in September. SpaceX, which owns xAI founded by Elon Musk, privately filed its IPO papers in April and published them on May 20. Now it is looking at the June 12 stock market and is looking for a total of 1.75 trillion dollars, Reuters reported.

The three companies are scrambling to raise funds that will help pay for the computing hardware needed to train AI models beyond borders. Anthropic’s annual revenue, based on sales from an undisclosed period last month, is $47 billion, the company said last week. But it spent a lot of money on cloud computing and thousands of employees, which led to losses.

Monday’s filing with the US Securities and Exchange Commission allows regulators to comment on a lengthy document that discusses Anthropic’s goals, funding, and challenges (the company may make changes based on feedback). Preparing for an IPO is a complex process, requiring companies to save their money, tighten various internal policies, and have a clear sales pitch to investors.

The anticipated startup could bring significant wealth to San Francisco, where Anthropic is based. Some Anthropic employees previously converted a portion of their shares into cash by selling them privately to investors before the IPO. But many Anthropic employees can cash out or sell large shares as part of the IPO process, turning tens or hundreds of millions of paper and billions into real.

The IPO could also be a boon for major shareholders such as Amazon and investors who made early bets on the company, including Skype co-founder Jaan Tallinn.

If all goes well, Anthropic’s IPO could rival SpaceX as the biggest. But Anthropic’s corporate and governance issues, including its role as a public benefit corporation that answers to a board the company calls the Long-Term Benefit Trust, could lead to delays and a drop in value.

Anthropic has set itself apart from other AI labs by focusing on enterprise customers. His coding method, Claude Code, is considered the best.

But the company has faced other obstacles. Earlier this year, US Defense Secretary Pete Hegseth authorized Anthropic under two separate federal laws to remove the company’s Claude AI models from the military and other federal agencies. Hegseth saw the company’s policies — including its refusal to allow Claude’s unsupervised use at major events — to threaten national security. In particular, Anthropic executives concluded that the government’s desire to use nascent AIs to perform tasks such as monitoring and mass surveillance at home is not something the company will allow.

These claims threaten to cost Anthropic billions of dollars in sales this year, the authorities said. Anthropic sued them to bring them down the ongoing court battles.