Anthropic, the artificial intelligence company behind the Claude assistant, has filed confidentially with the Securities and Exchange Commission ahead of a potential initial public offering, with its valuation now sitting at 965 billion dollars. The filing, submitted on June 1, does not yet include a target date or other specifics for the market debut.
According to a report by Yahoo Finance, the company's annual revenue run rate just hit 47 billion dollars. That number was 14 billion dollars in February, when Anthropic completed its Series G funding round. Three years before that February milestone, the company had not yet earned a single dollar in revenue.
The growth has drawn significant attention from institutional investors who have moved to gain exposure through the private market. Anthropic competes directly with OpenAI, the company behind ChatGPT. Both labs have signaled interest in going public after raising billions in private funding over recent years.
Two publicly traded companies are positioned to benefit more than most. Amazon and Alphabet are both investors in Anthropic, meaning they gain directly as the company's valuation rises. In April, Amazon said it was investing an additional 5 billion dollars in Anthropic right away, on top of the 8 billion dollars it had already committed. The company also said it would invest as much as 20 billion dollars in the future, depending on the achievement of commercial milestones.
Alphabet holds its own stake in the company as well. Both Amazon and Alphabet have cloud computing divisions that benefit not just from the investment itself but from any expansion in compute infrastructure that Anthropic requires to support Claude and its development. Anthropic has said it significantly increased capacity in recent weeks due to growing customer demand.
Anthropic is not the only AI-linked company preparing to enter public markets. Cerebras Systems launched its IPO last month, and SpaceX is aiming for a June 12 market debut. The wave of AI-related listings has drawn attention from investors looking for ways to participate in the sector's growth.
Because Anthropic is not yet publicly traded, it does not file earnings reports. The revenue figures it has disclosed recently are run-rate estimates, not audited results. The company has cited ongoing growth in global enterprise adoption of Claude since its Series G round as the driver behind the numbers.
The confidential filing means Anthropic can work through the regulatory review process before disclosing the full prospectus to the public. No pricing details or share structure have been announced.
