Anthropic beats OpenAI to blockbuster IPO filing

The AI giant Anthropic has submitted its draft S-1 registration with the Securities and Exchange Commission Monday morning, setting the stage for an initial public offering later this year.

Anthropic made headlines when it reached a near-trillion-dollar valuation, surpassing OpenAI as the largest privately held AI company. Anthropic raised $65 billion from Altimeter Capital, Greenoaks, Dragoneer, and Sequoia Capital. This came after it reached a peak influx of a million new users a day, the company said in March.

Once the SEC completes a review of Anthropic's confidential filing, the company will be able to go public. Anthropic said the timing "will depend on market conditions and other factors."

Anthropic revealed the news via a short announcement on its website, noting that the share price has not yet been set.

It isn't the only tech giant prepping for an IPO this year. Elon Musk's SpaceX, after its merger with xAI, filed its own IPO paperwork in May. ChatGPT-maker OpenAI is expected to move forward with its own IPO as early as this month.

These IPOs could break records and create unprecedented wealth. If the SpaceX IPO goes as planned, Musk is widely expected to become the world's first trillionaire.

Anthropic founder and CEO Dario Amoedi, who only owns 1% of the company, will not enter the Musk stratosphere of wealth — but he could be worth tens of billions of dollars when Anthropic hits the market.

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Disclosure: Ziff Davis, Mashable’s parent company, in April 2025 filed a lawsuit against OpenAI, alleging it infringed Ziff Davis copyrights in training and operating its AI systems.