Anthropic files confidentially for IPO at $965B valuation, days after $65B Series H vaults it past OpenAI

On June 1, 2026, Anthropic confidentially filed for an initial public offering at a $965 billion valuation — potentially debuting as soon as fall 2026 and positioning it to beat OpenAI to the public market. The filing follows the company's record $65 billion Series H, announced May 28 and led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital, with Capital Group, Coatue, D1 Capital Partners, GIC, ICONIQ and XN co-leading; of the $65 billion, $15 billion represented previously committed hyperscaler money including $5 billion from Amazon. The $965 billion post-money valuation leapfrogs OpenAI's most recent $852 billion mark (set in March), making Anthropic the world's most valuable AI startup.

Financials underpinning the run: annualized run-rate revenue crossed $47 billion earlier in May (up from roughly $10 billion at the end of 2025, and just $4 billion in July 2025), with the company expecting to surpass $50 billion by the end of the following month and projecting Q2 revenue of about $10.9 billion — more than double the prior quarter. The IPO race is now explicitly two-horse: OpenAI had also targeted a fall debut. Anthropic's filing caps a stretch in which it has, by multiple measures, vaulted ahead of the ChatGPT maker — on valuation, on run-rate revenue growth, and, per its own benchmarks, on frontier-model performance.

The confidential filing keeps detailed financials private until closer to launch.