Anthropic files for IPO, topping OpenAI with $965B valuation

Anthropic has reached a major milestone in its race against OpenAI by confidentially filing a draft registration statement with the U.S. Securities and Exchange Commission to go public. The company, recently valued at $965 billion post-money after its latest fundraise, now holds the title of the world’s most valuable startup — surpassing OpenAI’s $852 billion valuation. The confidential filing means key details like financials, risks, and executive compensation won’t be public until later in the process, but the move signals Anthropic’s intent to capitalize on the AI boom with a massive IPO.

This development comes less than two weeks before SpaceX’s June 12 IPO, which is expected to raise $80 billion and become the largest in history. SpaceX — which owns xAI — also has a recently signed deal with Anthropic, paying $15 billion annually to use SpaceX data centers. Meanwhile, OpenAI recently emerged victorious in a high-profile legal battle with Elon Musk after a judge dismissed all claims due to the statute of limitations. The IPO filing intensifies an already heated rivalry between the two AI leaders, with both vying for dominance in a market that has seen explosive growth in generative AI.