Anthropic, a rapidly growing artificial intelligence company, has confidentially submitted paperwork to go public, signaling a major step in its expansion. While the firm revealed few details, market analysts expect the IPO to occur this year, potentially valuing Anthropic above $965 billion, in line with its latest funding round.
The timing of this filing coincides with significant financial milestones. Recent reports indicate that Anthropic may have reported its first profitable quarter, a key achievement that could attract strong investor interest. The company’s quarterly revenue recently surpassed $11 billion, pushing the annualized revenue run-rate over $47 billion—more than triple the figure from earlier this year.
A major driver behind Anthropic’s growth is Claude Code, a programming-optimized version of its AI chatbot. Introduced less than a year ago, Claude Code’s annualized revenue recently crossed $2.5 billion, highlighting its commercial traction among developers and enterprises. The company plans to soon release “Mythos-class” large language models, targeting enhanced cybersecurity applications. The Mythos Preview model reportedly identified critical vulnerabilities in leading operating systems and browsers, underlining its potential value for corporate clients.
Large enterprise customers represent a significant revenue source. Anthropic disclosed that over 500 clients now spend upwards of $1 million annually on its services, a rapid expansion from a few dozen such customers two years ago. This growing client base helps solidify Anthropic’s position in the competitive AI market.
The forthcoming IPO is expected to provide liquidity to institutional investors who have poured more than $90 billion into the company thus far this year. Proceeds from the public offering will likely support Anthropic’s substantial infrastructure investments. The company has committed to spending over $100 billion on Amazon Web Services over the next decade, while also securing multi-gigawatt computing capacity deals with Broadcom and Google.
In parallel, Anthropic maintains a lucrative partnership with SpaceX, which filed for its own IPO recently. Documents show Anthropic agreed to pay SpaceX $1.25 billion monthly through 2029 for access to cutting-edge supercomputing resources tailored for AI development. SpaceX’s ambitions to raise up to $75 billion reflect the expanding market for AI and space technologies.
Meanwhile, industry competitors like OpenAI are also preparing for public listings, with OpenAI’s IPO anticipated by year-end. As Anthropic advances its product lineup and consolidates enterprise demand, its upcoming IPO could reshape investment flows in the AI sector.