Yesterday, June 1, AI lab Anthropic revealed that it had confidentially filed for an Initial Public Offering (IPO) with the US Securities and Exchange Commission (SEC).

Details of the filing remain sparse, though Anthropic has described it as a "draft registration statement on Form S-1," noting that while it gives the company the option to go public, the offering will depend on "market conditions and other factors."

Additionally, Anthropic said that the number of shares to be offered and the price have not yet been set.

The filing comes shortly after the company raised $65 billion in Series H funding led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, with a valuation of $965 billion post-money, more than competitor OpenAI's $852bn valuation in March.

At the time of announcing the Series H funding round, Anthropic said that its run-rate revenue crossed $47 billion in May 2026, up from $9bn at the end of last year. Prior to that, the company secured $30bn in funding from various investors in February of this year.

Reports that Anthropic was considering an IPO emerged in December 2025, though at the time the company was said to be targeting a valuation of between $300 and $350 billion, just one-third of what it is worth today.

Dario Amodei founded Anthropic after leaving OpenAI due to disagreements with its CEO, Sam Altman. OpenAI has yet to launch an IPO, though Altman has said that it will eventually do so "when it makes sense."

Anthropic has had a jam-packed 2026 so far, with both ups and downs. Towards the start of the year, the AI lab took a blow after President Donald Trump ordered every US government agency to “immediately cease” using AI systems developed by Anthropic, when the company refused to adjust its terms of service to allow mass domestic surveillance and support fully autonomous weapons. OpenAI later amended its terms of service to allow such use cases.

Anthropic sued the Pentagon after the government officially declared it a supply chain risk, stating at the time that it could cost the company billions of dollars.

However, since then, Anthropic has seen rapid growth, signing capacity agreements with cloud providers and data center companies alike, including a $1.25bn-a-month rental agreement with SpaceX for the Colossus data center; secured more investment; and hired industry veterans across the data center market to help expand further.