Anthropic has confidentially filed paperwork with U.S. regulators for a potential initial public offering, positioning the company for a potentially historic public offering.
The company announced Monday that it had submitted a confidential registration statement to the U.S. Securities and Exchange Commission. Anthropic said the filing gives it the option to proceed with a public offering once regulators complete their review process.
However, the company emphasized that no final decision has been made. Anthropic said market conditions and other factors will determine whether it moves forward with the share sale.
The filing places Anthropic ahead of rival OpenAI, which is reportedly preparing its own confidential submission. Meanwhile, SpaceX has already completed its filing process and plans to begin a roadshow this week before a public market debut expected next week.
A confidential filing does not establish a firm timeline. Companies can wait months before launching an offering. They only need to release a public prospectus at least 15 days before beginning investor presentations.
SpaceX followed that path earlier this year. The company submitted confidential paperwork on April 1 and later released its public prospectus on May 20.
Anthropic emerged in 2021 after a group of researchers and executives left OpenAI. The company developed the Claude family of artificial intelligence models, which power several products, including the coding assistant Claude Code.
Since then, Anthropic has experienced rapid growth. The company announced in May that its annualized revenue run rate had reached USD$47 billion. That figure marked a significant increase from roughly USD$10 billion in annual revenue reported last year.
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Anthropic has been in talks with the Trump administration
Additionally, Anthropic closed a funding round last week that valued the company at approximately USD$965 billion. That valuation surpassed OpenAI’s reported USD$852 billion valuation from late March.
Investors and policymakers also focused on Anthropic this year after the company unveiled Claude Mythos Preview. The model offers advanced cybersecurity capabilities and is currently available only to a select group of organizations through an initiative called Project Glasswing.
Furthermore, Anthropic has held discussions with senior members of the Trump administration regarding the model’s potential applications.
Mythos gained attention after concerns emerged about Anthropic’s relationship with the U.S. Department of Defense. Earlier this year, negotiations between the company and the Pentagon broke down.
Consequently, the Department of Defense blacklisted Anthropic’s artificial intelligence models. Defense contractors subsequently reduced their use of the company’s technology to comply with the order.
However, Anthropic continued expanding in the private sector. Businesses increased adoption of its artificial intelligence tools, particularly its coding products.
The company also gained momentum among consumers. Claude reached the top position on Apple’s list of free applications in the United States during late February.
Meanwhile, Anthropic launched legal action against the Trump administration in an effort to overturn the blacklist. The case remains before the courts.
President Donald Trump told CNBC in April that an agreement between Anthropic and the Department of Defense remained possible.
Anthropic’s growth has also increased demand for computing infrastructure. Consequently, the company has pursued several major capacity agreements in recent months.
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