US-based artificial intelligence powerhouse Anthropic has confidentially filed for an initial public offering (IPO) in the United States, positioning itself ahead of rival OpenAI in the highly anticipated race to public markets. This move is set to be an early litmus test for sustained investor appetite for AI companies, which have seen soaring private valuations.
Anthropic, known for its agentic coding assistant Claude Code, did not disclose specific terms or the size of the offering. The company's last private funding round in late May valued it at an impressive $965 billion. Should it list near this figure, Anthropic would join an elite group of companies at the top tier of the S&P 500, potentially becoming one of the most significant stock market debuts in years.
AI Market Heats Up with Major Filings
The confidential filing allows Anthropic to prepare for its IPO while keeping sensitive financial details private from competitors and the public. This development follows reports that OpenAI was also planning a confidential US IPO. Furthermore, Anthropic's move comes amidst SpaceX's own mega-IPO filing, which seeks a $75 billion offering at a $1.75 trillion valuation.
Both OpenAI and Anthropic have been central figures in the ongoing AI boom, which has reshaped corporate strategies globally and intensified the demand for computing power and specialized talent. The rapid rise of AI-linked firms has made them some of the most richly valued companies in the market.
Rapid Growth and Investor Confidence
Anthropic's valuation has seen a dramatic increase, more than doubling from $380 billion in February, when it secured $30 billion in a funding round. This rapid expansion in early 2026 reportedly unsettled markets, leading to sell-offs in traditional software and IT stocks as investors considered the disruptive potential of autonomous AI tools across various industries. Its most recent funding round attracted significant backing from major investors including Blackstone, Brookfield, D1 Capital Partners, GIC, General Catalyst, and Insight Partners.
The broader IPO market has also shown signs of resurgence, with companies raising $87.5 billion globally through May 26, marking the highest year-to-date total since 2021. Several other substantial US IPOs, such as Quantinuum, Liftoff, and Innio, are also anticipated soon.
Significance for Public Markets and Indian Investors
"Anthropic filing IPO confidentially is a solid milestone not just for the company, but for how public markets are going to engage with frontier AI," stated Viram Shah, Founder & CEO at Vested Finance. He highlighted that while mega AI bets have largely been confined to private institutional rounds, a public listing opens up access to a wider investor base.
Shah also emphasized Anthropic's remarkable growth, noting a revenue run-rate jump from approximately $10 billion to around $47 billion in a single year—a scale of growth rarely seen. This trajectory has propelled Anthropic past OpenAI in valuation and placed it at the forefront of what could be one of the most concentrated waves of mega-cap tech listings ever witnessed, alongside OpenAI and SpaceX.
For Indian investors, the primary significance lies in gaining direct access to a leading AI company. Currently, most Indian investors access AI exposure indirectly through companies like Nvidia, Microsoft, or Alphabet via the Liberalized Remittance Scheme (LRS) route.