Anthropic IPO Filing Edges Closer as $965bn AI Giant Submits S-1 Draft

Anthropic‘s IPO filing marks the San Francisco-based artificial intelligence company as the most advanced of the 2026 tech listing class, after it submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission (SEC) on 1 June 2026.

The company confirmed the move in an unattributed statement on its website: ‘Today, Anthropic, PBC confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission for a proposed initial public offering of our common stock. This gives us the option to go public after the SEC completes its review. The proposed initial public offering will depend on market conditions and other factors.’

No share price or share count has been set. A flotation as soon as October is being discussed, though that timeline remains contingent on SEC review and market conditions. Morgan Stanley and Goldman Sachs are leading the listing process, with J.P. Morgan also involved, according to Bloomberg.

A $965bn Valuation Backed by a $65bn Series H

The S-1 submission came days after Anthropic closed a $65 billion Series H funding round, pushing the company’s estimated valuation to $965 billion. The round was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital, with Capital Group, Coatue, D1 Capital Partners, GIC, ICONIQ and XN co-leading.

Brad Gerstner, founder and chief executive of Altimeter Capital, said: ‘Claude’s latest advancements have driven large-scale adoption among the world’s most demanding organisations. This momentum positions Anthropic to lead the next phase of AI innovation and capture the enormous opportunity ahead.’

The raise includes $15 billion of previously committed investments from hyperscalers, among them $5 billion from Amazon. Separately, Apollo and Blackstone are arranging approximately $36 billion in debt financing for Anthropic to purchase Google chips for AI infrastructure development, according to Cobo, an aggregator report without primary issuer confirmation.

Alfred Lin, partner at Sequoia Capital, said: ‘Startups and Global 5000 companies alike are deploying Claude to handle complex workflows, and in doing so, Claude is learning how businesses actually operate: the context, the processes, the judgement. Anthropic is building the bridge between where enterprise AI stands today and where it’s headed.’

Since its Series G round in February, the company’s run-rate revenue crossed $47 billion. Concurrent with the Series H announcement, Anthropic launched Claude Opus 4.8, its latest flagship model version. Claude is the first frontier model available across Amazon Web Services, Google Cloud and Microsoft Azure, with AWS serving as its main cloud provider and training partner. The fundraising announcement also referenced signed agreements with Amazon, Google, Broadcom and SpaceX on compute capacity.

The Anthropic IPO Filing and the Wider Market Opening

NPR reported that Wedbush Securities analysts responded to the Anthropic IPO filing with a pointed assessment of the broader market: ‘We believe this represents an opening of the floodgates for the IPO market, which has been relatively dormant for a few years, with these three major conglomerates set to go public later this year, but this has turned into a race to reach public markets over the coming months.’

Anthropic, OpenAI and SpaceX are the three listings being tracked most closely in 2026. The Nasdaq is the expected venue for Anthropic, though this has not been confirmed. As a public benefit corporation (PBC), the company is structured as a for-profit entity with an explicit purpose: ‘the responsible development and maintenance of advanced AI for the long-term benefit of humanity.’

The appetite around the listing has already reached exchange-registration level. In a post-effective amendment filed with the SEC on 17 March 2026, Defiance ETFs registered two leveraged products tied to Anthropic’s future share price within Tidal Trust II: one seeking daily returns of two times (200%) the daily percentage change in Anthropic’s share price, one seeking inverse two times. Both were marked subject to completion, with exchange and ticker listed as placeholders pending the IPO.

How UK Retail Investors Already Hold Anthropic

Five UK-listed investment trusts carry Anthropic exposure, offering a route in ahead of any public listing. Annabel Brodie-Smith, communications director of the Association of Investment Companies (AIC), said investment trusts ‘provide retail investors with a way of getting exposure before the crowds pile in when the company is listed on the stock market.’

Source: AIC / Morningstar and investment trust managers, as at 2 June 2026, based on latest available published portfolio weights.

Baillie Gifford also appeared as a named investor in the Series H round itself. The trust route carries its own risks: discounts to net asset value can widen sharply around high-profile listings, and the weighting each trust carries will shift once Anthropic prices its shares.

The next test is whether the SEC review runs to the October window or slips into year-end. If markets hold and the review clears on schedule, the pricing process will force a definitive number on a valuation that has moved from $18 billion at Series C to $965 billion in roughly three years.