Anthropic Files S-1 On Its Journey To An IPO Following A Year Of Unprecedented Growth

This article, written by Ben Sherry, was originally published on Inc.com.

Anthropic, the high-flying company behind the Claude family of artificial intelligence (AI) models, has confidentially submitted a draft Form S-1 to the US Securities and Exchange Commission (SEC), the first official indication that the company is on the path to going public. 

In a brief announcement on its website, Anthropic said that it had submitted the S-1, and added that the number of shares being offered and the price of any future IPO “have not yet been set,” and will “depend on market conditions and other factors.” 

Anthropic’s filings come just days after the company announced that it had raised a US$65 billion Series H funding round that valued the company at $965 billion. It also comes soon after Elon Musk’s SpaceX publicly revealed its S-1 filing, and amid reports that OpenAI is preparing to, or may already have, confidentially filed its own S-1. 

The company’s growth in the first half of 2026 is unprecedented. In a blog post announcing its latest fundraise, Anthropic said that its run-rate revenue had grown from $10 billion to $47 billion since the start of the year. 

Much of that growth can be attributed to the business community’s adoption of Claude. In May, Ramp economist Ara Kharazian said that Anthropic had overtaken OpenAI in business adoption. Several companies, including Microsoft and Uber, have reportedly exceeded their AI budgets for the year in just a few months due to heavy usage of Claude. This explosion in usage directly translates into revenue for Anthropic. Inc. named Claude as its Co-Founder of the Year in 2025. 

Anthropic has had a roller-coaster year. In February, the company made headlines for refusing to alter the terms of its deal with the Department of Defense after the Pentagon requested that security guardrails around autonomous weapons and domestic surveillance be removed. The company was branded as a supply chain risk, and President Trump directed federal agencies to begin the process of transitioning to another model provider. 

But in April, Anthropic announced Claude Mythos, an extremely large model that is powerful enough to completely upend decades of cybersecurity practice. Anthropic hasn’t publicly released Mythos yet in order to give the cybersecurity community time to strengthen its defenses. Mythos’s power also helped Anthropic make its way back into the White House; in April, White House Chief of Staff Susie Wiles and other officials met with Dario Amodei, the CEO and cofounder, to discuss the technology’s national security implications. 

Additional details, such as when the S-1 will be viewable or what Anthropic’s potential timeline to IPO might look like, haven’t yet been disclosed.