Anthropic has confidentially filed its IPO prospectus with the U.S. Securities and Exchange Commission, aiming to become one of the most valuable AI companies globally. Founded by former OpenAI executives in 2021, the company’s revenue run rate is projected to hit $47 billion by 2026. Its recent $65 billion funding round pushed its valuation close to $1 trillion, surpassing OpenAI’s $852 billion mark from earlier this year. The IPO is set to join a wave of high-profile public offerings in 2026, including SpaceX and OpenAI, reshaping the technology investment landscape.

Anthropic’s confidential filing with the SEC signals its intention to go public, marking a turning point for the artificial intelligence industry. The company’s valuation now approaches $1 trillion, a figure that shows its rapid growth since its founding in 2021 by former OpenAI executives. Anthropic’s flagship AI models, marketed under the Claude brand, have gained significant traction among software developers and enterprises, especially in sectors like code generation and cybersecurity.

According to a person familiar with the company’s financials, Anthropic’s revenue nearly doubled in the latest quarter, jumping from $4.8 billion to an anticipated $10.9 billion. But this surge pushes the company toward its first quarterly operating profit, estimated at $559 million. Such profitability stands out in the AI sector, where many companies still struggle with high operational costs that outpace revenue growth.

Driving this growth is the increasing adoption of Anthropic’s Claude models, particularly the advanced Mythos variant, which has strong applications in detecting cybersecurity vulnerabilities. The demand from enterprises for these AI solutions has fueled Anthropic’s rise, leading to a $65 billion funding round that lifted its valuation to approximately $965 billion.

And this figure overtakes OpenAI’s $852 billion valuation reported in March, highlighting Anthropic’s accelerating momentum.

The company’s revenue trajectory reflects this rapid climb, with annualized revenue jumping from $9 billion at the end of 2025 to $30 billion by April 2026, and then further to $47 billion in June 2026. This explosive growth places Anthropic among the world’s largest private AI firms, intensifying competition within the sector.

Strategic Partnerships and Financial Dynamics

Anthropic’s IPO filing comes after similar moves by SpaceX, which is also preparing for a public offering and has expanded into the AI market.

SpaceX’s IPO documents disclose that Anthropic agreed to pay $1.25 billion monthly for access to its Colossus and Colossus II AI training data centers through May 2029. Elon Musk later clarified that this agreement is structured as a six-month lease with mutual 90-day cancellation rights, adding flexibility to the arrangement.

Despite the hefty monthly expenditure, Anthropic’s growing sales have started to offset these costs. This contrasts with SpaceX’s AI segment, which reported a $2.5 billion operational loss on $818 million in revenue during the March quarter. The differing financial outcomes highlight the contrasting stages and strategies of these two high-profile AI players.

The anticipated IPOs of Anthropic, SpaceX, and OpenAI in 2026 are expected to generate rare capital inflows. Collectively, these offerings could raise more funds than all U.S. venture capital-backed IPOs combined over the past decade. This surge of mega-listings is already prompting index providers like Nasdaq and S&P Dow Jones Indices to adjust their inclusion rules, ensuring these large companies can be incorporated into major stock indexes without delay.

Market Impact and Regulatory Challenges

Anthropic’s public debut promises to create significant wealth for investors and company employees alike. It could also produce the world’s first AI-driven trillionaire, with Elon Musk’s stake in SpaceX playing a key role in the broader market dynamics. Both Anthropic and OpenAI have pledged substantial portions of their shares to charitable causes, potentially channeling hundreds of millions of dollars into the nonprofit sector.

However, the company faces notable regulatory and political headwinds. Earlier this year, Anthropic’s AI models were blacklisted by the U.S. Department of Defense following unsuccessful negotiations. This blacklisting led several defense contractors to sever ties with the company. Anthropic has since filed a lawsuit seeking to reverse the ban, and talks to resolve the dispute are still underway.

Despite these setbacks, Anthropic’s adoption in the private sector continues to expand. Its Claude AI app achieved the number one spot on Apple’s free app charts in the U.S., reflecting strong consumer interest and market penetration.

The confidential SEC filing grants Anthropic the flexibility to time its IPO according to market conditions and regulatory reviews. Meanwhile, SpaceX is preparing for its IPO roadshow scheduled for early June 2026, which will likely influence investor appetite for these tech giants. OpenAI is also reportedly preparing its own confidential filing, targeting a public debut by September.

The upcoming SpaceX IPO roadshow will be a critical event, offering insight into the market’s reception of these transformative technology companies. Its outcome will set the tone for Anthropic’s public offering and may shape investor expectations for the sector’s future.

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SpaceX’s IPO roadshow in early June 2026 will provide the first major market test for these high-profile public offerings, setting the stage for Anthropic’s anticipated debut. The outcomes of these events will profoundly influence the valuation and investor appetite for AI and space technology firms in the coming years.