Anthropic just filed secret IPO paperwork with the SEC, and the valuation number it’s chasing is almost impossible to comprehend

Anthropic has officially taken its first major step toward joining the public markets. As detailed by Engadget, the company behind the Claude family of large language models confirmed on Monday, June 1, 2026, that it has confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission.

Because the filing is confidential, Anthropic has not yet shared the exact number of shares it intends to offer or the proposed price range. The final decision to move forward will depend on broader market conditions and various strategic factors, as the company still needs to navigate the standard SEC review process.

The numbers surrounding this company are substantial. Just last week, Anthropic closed a $65 billion funding round that brought its valuation to $965 billion, more than doubling its previous valuation of $380 billion set in February following a $30 billion round. That rapid growth has positioned the Claude maker as the most valuable private AI company in the world, ahead of rival OpenAI.

The IPO could reshape how investors access generative AI

Current expectations point toward an operating profit of $559 million on $10.9 billion in revenue for the quarter ending June 30, which would mark the company’s first profitable quarter. For investors, the listing represents a rare opportunity to access a pure-play generative AI foundational model company. Up until now, those looking to capitalize on the AI boom have largely had to focus on semiconductor giants like Nvidia, megacap tech stocks, or enterprise software firms.

Anthropic has already secured major investments from Amazon and Google, which have provided the computing power needed to train its frontier models. An IPO will also offer liquidity to early investors and employees. The filing arrives amid ongoing debate over how the federal government plans to regulate powerful AI models, with the Trump administration’s approach to AI oversight still awaited by major companies including Anthropic, OpenAI, and Google.

Anthropic is likely to follow SpaceX, which is currently pursuing an IPO at a $1.75 trillion valuation. OpenAI is also expected to submit its own confidential filing for a U.S. listing in the coming weeks. The buildout of AI infrastructure has itself become a flashpoint, with federal law enforcement monitoring critics of large-scale AI data centers as the government ramps up its investment in the sector.

The submission of the draft S-1 means the IPO could take place later this year, pending completion of the SEC review and Anthropic’s final decisions on the terms of its offering.