Anthropic Files for US IPO as Investors Bet Big on AI Future

The AI Giant's IPO Filing

Artificial intelligence (AI) giant Anthropic has confidentially filed for an initial public offering (IPO) in the United States, teeing up what could become a watershed moment for Wall Street’s AI frenzy.

Investor Appetite for AI

The move, announced on Monday, sets up a high-stakes test of whether investor appetite for the AI revolution that has reshaped white-collar work around the world can match the sky-high expectations surrounding the booming sector.

IPO Details and Valuation

Anthropic, which operates AI chatbot Claude, did not disclose the size or the terms of the offering. Confidential submissions let companies advance IPO preparations while shielding sensitive financial details from rivals and the public.

Anthropic last raised $65bn in late May and was valued at $965bn, putting it ahead of rival OpenAI. The company said at the time that it was making annualised revenue of $47bn from selling its technology to people and organisations using Claude to write code and do other work and personal tasks on their behalf.

The Impact on the Market

The crucial step towards a listing comes on the heels of SpaceX’s mega-IPO, which is on course to rewrite the record books as the Elon Musk-led company pursues a $75bn offering at a $1.75 trillion valuation.

Anthropic was formed in 2021 by ex-OpenAI leaders, and now both AI firms, along with Elon Musk’s rocket and AI company SpaceX, are expected to become publicly traded. All three are also still losing more money than they make, fuelling concerns of an AI bubble.

The Future Outlook

“One of the biggest significances is how quickly Anthropic has overtaken OpenAI in a matter of 12 to 14 months,” Scott Stevens, founder and CEO of Gray Peak Financial, a New York-based investment firm, told Al Jazeera. “OpenAI was the poster child for growth, innovation, and leadership in the industry, and now you’ve seen Anthropic, for the first time, raise capital at a higher valuation than OpenAI, and their growth rate is much, much higher.

“OpenAI and Anthropic are in a race to go public before capital runs out,” said analyst Gil Luria from the investment firm DA Davidson.