Anthropic confidentially files draft S-1 for IPO, days after $65bn Series H at $965bn valuation

Anthropic said on June 1 it had confidentially submitted a draft registration statement on Form S-1 to the US Securities and Exchange Commission for a proposed initial public offering of its common stock. In its own statement the company said the number of shares and the price had not been set and that the offering would depend on market conditions and SEC review, adding the filing 'gives us the option to go public after the SEC completes its review.' The move followed by less than a week the close of a $65 billion Series H round that lifted Anthropic's post-money valuation to about $965 billion — up from $380 billion at its Series G in February 2026, and from $183 billion at its Series F in September 2025.

Fortune reported an annualized revenue run-rate of about $47 billion as of May 2026 and framed the confidential filing as Anthropic moving first in an IPO race with OpenAI, which is valued at about $852 billion and which separately filed its own confidential S-1 in late May targeting a listing as soon as September. The confidential route allows the SEC to review a draft before a full prospectus with audited financials and risk factors becomes public, giving issuers flexibility on timing; the company stressed any IPO remains contingent and could be delayed or withdrawn.

The filing is a milestone in the broader 2026 wave of AI-company public-market entries arriving alongside Cerebras's debut and SpaceX's mega-IPO, all amid scrutiny of frontier-AI cash burn and valuations. As of June 8 no terms, timetable or public prospectus had been disclosed, making the listing a developing matter.