Anthropic files – Anthropic has filed a draft registration statement with the U.S. Securities and Exchange Commission, kicking off its IPO process. The move comes as the company is valued at $965 billion post-money—above OpenAI’s $852 billion—and just weeks before SpaceX’s June
For months, the big question in AI boardrooms was simple: who would IPO first—OpenAI or Anthropic? On Monday, Anthropic moved from speculation to paperwork, reaching a key milestone by filing to start the process with the U.S. Securities and Exchange Commission.
The filing sets the stage for what many expect to be a blockbuster listing. After its fundraising last week. Anthropic is being called the world’s most valuable startup. with a post-money valuation of $965 billion. That figure puts it ahead of OpenAI’s biggest rival status, where OpenAI is reported at a $852 billion post-money valuation.
Anthropic also chose a route that keeps the sharpest details under wraps at first. The company submitted its draft registration statement to the SEC confidentially, according to a company blog post. That means key information that normally appears in such filings—potential risks to its business. executive compensation. and other financials—won’t be made public until later in the process.
The timing is adding its own pressure to the moment. Anthropic’s filing lands less than two weeks before SpaceX’s planned June 12 IPO. SpaceX. which owns xAI and has a newly announced deal with Anthropic. is set to raise $80 billion in its public debut—an effort that would make it the largest IPO in history. Under the deal, Anthropic will pay $15 billion per year to use SpaceX data centers.
That competitive backdrop has been heating up on multiple fronts. The IPO filing arrives shortly after OpenAI came out ahead in its high-profile legal battle with Elon Musk, when a judge dismissed all claims due to the statute of limitations.
The sequence now sits in sharp focus: Anthropic’s confidential SEC filing, a valuation reported at $965 billion, and an IPO timeline that lands close to SpaceX’s own planned debut—all while the OpenAI–Musk legal dispute has just tipped in OpenAI’s favor.
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