Anthropic has officially begun the process of going public, confidentially filing paperwork with the US Securities and Exchange Commission (SEC) for an IPO. The filing comes just days after the Dario Amodei-led AI firm completed a massive $65 billion Series H funding round, which raised its valuation to around $965 billion, making it the most valuable AI startup in the world and placing it ahead of OpenAI.
Anthropic’s IPO filing arrives during an increasingly intense battle among the world’s leading AI companies. The company now competes directly with OpenAI, Google’s Gemini division, Meta’s open-model ecosystem and Elon Musk’s xAI for enterprise customers, talent and computing resources. Notably, OpenAI was recently valued at around $852 billion following its own major fundraising round, while SpaceX is reportedly targeting a valuation approaching $1.75 trillion.
Meanwhile, Anthropic’s planned IPO becomes even more critical as it could serve as a major test of whether public markets are willing to support valuations approaching the trillion-dollar mark for AI companies that generate tens of billions of dollars in revenue while also spending heavily on research, advanced chips, data centers, and AI model training.
It is worth noting that the company’s rise has been extraordinarily fast. Anthropic was founded in 2021 by former OpenAI executives and researchers Dario Amodei and Daniela Amodei after disagreements over AI governance and safety. In less than five years, the company has gone from a newly launched research lab to a business valued at around $1 trillion. Its valuation jumped from about $183 billion in late 2025 to around $380 billion in February 2026 before reaching $965 billion in its latest fundraising round. The funding attracted major investors including Sequoia Capital, Fidelity, Coatue, Dragoneer, Altimeter Capital, Blackstone, Brookfield, Temasek, GIC and several sovereign wealth and pension funds, clearly showing the growing global race to secure exposure to advanced AI companies.
A major reason behind that valuation surge is Anthropic’s rapid revenue growth. The company recently disclosed that its annualized revenue run rate has climbed to around $47 billion. This is significant as just months earlier, estimates had placed annualized revenue at around $14 billion. Much of this growth has come from enterprise demand for Claude, Anthropic’s flagship AI assistant, and Claude Code, its software-development platform that has become increasingly popular among engineers and large corporations.
Although the confidential filing does not reveal the number of shares Anthropic plans to sell or the valuation it will target during the IPO, the move could become a major moment for the AI industry. If the company ultimately goes public near its latest private-market valuation of $965 billion, it would rank among the largest IPOs in history. More importantly, it would give public-market investors their first opportunity to directly own shares in one of the companies building frontier AI systems rather than investing indirectly through cloud providers, semiconductor firms and venture-capital funds.
The Tech Portal is published by Blue Box Media Private Limited. Our investors have no influence over our reporting. Read our full Ownership and Funding Disclosure →
Ashutosh is a Senior Writer at The Tech Portal, largely reporting on new tech, and intersection of technology and business. Ashutosh’s career spans across nearly a decade of technology writing across multiple platforms and languages.
