Anthropic confidential – Anthropic has filed a confidential draft S-1 with the U.S. Securities and Exchange Commission, a step that typically comes months before a company goes public. The move places the AI developer in direct competition with OpenAI, as both are widely expected to s
On Monday morning, Anthropic made one thing unmistakably clear: the sprint to go public is already underway.
The AI company announced it has filed its first confidential S-1 draft with the U.S. Securities and Exchange Commission. For investors and competitors alike, that filing is more than paperwork. It’s the next rung on the ladder toward a blockbuster IPO—timing that matters when the market is hungry for the next big name in artificial intelligence.
A confidential S-1 filing typically happens about six to nine months before a company actually lists on public markets. though that window can shift. Anthropic’s move lands in the middle of a broader rush: rival OpenAI is also racing to IPO. In mid-May, Business Insider reported that the ChatGPT-maker was preparing its own confidential prospectus.
OpenAI’s filing status isn’t confirmed. The company did not immediately respond to Business Insider’s request for comment, and Anthropic declined to comment.
Still, the stakes are hard to miss. The two companies’ IPOs are widely expected to value them at more than $1 trillion each, a scale that would mark a major shift in how the public markets price AI leaders and a landmark moment for an industry moving at breakneck speed.
Just last week. Anthropic boosted its valuation to $965 billion in a new funding round—an update that underscored how quickly fortunes are being recalibrated in this space. The faster the pipeline toward an IPO. the more valuable each new data point becomes: investors are not just buying technology. they’re buying the story of who will define the next era in computing.
For now, the filings are private and the timelines are still unfolding. But the direction is unmistakable. Anthropic is already in the SEC process, and the race with OpenAI is now moving from speculation to documented momentum—one confidential draft at a time.
This is a developing story.
Anthropic confidential S-1 U.S. Securities and Exchange Commission IPO race OpenAI valuation AI startups public markets SEC filings