American AI company Anthropic announced on Monday that it has submitted a confidential filing with the U.S. Securities and Exchange Commission for a proposed IPO of its common stock, surpassing rival OpenAI in the race to go public. The move by Anthropic, based in California, sets the stage for a test of investor interest in AI companies and their valuations in the public market. Although specific details of the IPO were not disclosed, Anthropic previously raised $65 billion US in late May, giving it a post-money valuation of $965 billion US.
This IPO, if successful, could have significant implications for stock market indexes and investor sentiment towards AI companies. Reuters had reported earlier that OpenAI was also preparing to file for a U.S. IPO in the near future. Meanwhile, SpaceX, led by Elon Musk, is gearing up for a mega-IPO with an offering of $75 billion US at a valuation of $1.75 trillion US.
Confidential filings like Anthropic’s allow companies to prepare for IPOs while keeping financial details private from competitors and the public. Analysts suggest that Anthropic’s move to file after SpaceX could benefit from the current investor interest in AI and growth stocks. The competition between Anthropic and OpenAI reflects the broader trend of AI companies reshaping industries and attracting high valuations.
OpenAI CEO Sam Altman indicated that the company is not rushing into an IPO following Anthropic’s filing, emphasizing the importance of timing. Anthropic’s valuation has surged, doubling from $380 billion US earlier in the year. The company’s rise has caused fluctuations in the market, with concerns about the impact of its AI tools on existing business models.
As more companies eye public listings, there is fierce competition for investor capital. Analysts predict that the demand for capital from companies like SpaceX, OpenAI, and Anthropic could disrupt capital markets. With a potential valuation nearing $1 trillion US, Anthropic could join the ranks of top S&P 500 companies. The IPO market has seen increased activity recently, with companies raising substantial funds, pointing to a healthy market appetite for new offerings.
