Anthropic, an artificial intelligence company founded in 2021 by former OpenAI researchers, is in the early stages of preparing for its IPO, having confidentially filed its prospectus with the SEC in June. The company has not yet set a timeline for its public offering but has begun high-level discussions with investors led by CFO Krishna Rao.
These meetings have centered on the company's Claude AI models and its competitive position in the enterprise market, without delving into specific financial metrics or valuations. Notably, Anthropic's valuation reached $965 billion in late May, surpassing OpenAI's $852 billion valuation.
The company reported a run-rate revenue exceeding $47 billion, a significant increase from approximately $10 billion in 2025. Some investors speculate that Anthropic could aim for a valuation of $2 trillion or more, although this figure is not officially confirmed by the company.
Meanwhile, OpenAI is also preparing for its IPO, having filed its prospectus shortly after Anthropic, but has not yet conducted pre-IPO meetings. The competitive landscape for AI developers remains intense, particularly as other companies like SpaceX have recently made notable market entries