Anthropic has filed its initial public offering (IPO) paperwork confidentially with the U.S. Securities and Exchange Commission (SEC). Anthropic is moving forward with the IPO process before its rival OpenAI, as its company valuation has risen to almost $1 trillion, exceeding that of OpenAI.
On the 1st (local time), Anthropic revealed that it had filed its IPO paperwork confidentially with the SEC and begun the official review procedure. The quantity of shares and the public offering price have not been finalized, and the listing schedule is anticipated to be set according to the SEC’s evaluation and market circumstances.
The submission of this document occurred more quickly than expected within the AI sector. Initially, both Anthropic and OpenAI were predicted to start their listing procedures around this fall, yet Anthropic acted first, securing an advantage over OpenAI in the public offering market. AP News noted, “It has taken the lead in the listing race by surpassing OpenAI.”
The study indicates that Anthropic has taken the lead in the ‘IPO race’ because of its need for funding. Both firms require billions of dollars in capital for AI model development and the expansion of data centers. The company that goes public first may have an advantage in attracting investor attention and securing favorable funding terms. With SpaceX having already announced a major IPO this month, there is a belief that postponing the IPO could mean missing out on Wall Street’s financial resources.
NBC News referenced the 2019 incident in which ride-hailing firms Lyft and Uber went public back-to-back—with Lyft, which debuted first, showing stronger initial stock performance—and stated, “(Anthropic is) seeking additional funding before its primary rival.” Reuters noted, “The race for leadership in the AI sector between the two companies has become even more intense.”
As reported by Reuters, Anthropic recently secured $65 billion in funding, increasing its company value to $965 billion. This is over twice the $380 billion valuation it had in February and exceeds OpenAI’s $852 billion valuation as of March. The British newspaper The Guardian stated, “Anthropic has surpassed OpenAI to become the world’s most valuable AI startup.”
With its corporate valuation approaching $1 trillion, Anthropic’s initial public offering would stand as one of the biggest in the world. After SpaceX, which is projected to have a valuation of approximately $2 trillion, it might place among the second or third largest stock market debuts ever.
With AI startups increasingly aiming for IPOs, analysis indicates that the AI rivalry is moving from a technological contest to a financial one. Since the release of ChatGPT in November 2022, AI companies such as Anthropic have been involved in research battles to create more sophisticated models. Currently, this rivalry has expanded to obtaining investments in AI infrastructure, including processing power, making the volume of capital raised a key determinant.
Anthropic’s initial public offering is also being viewed as a “test for the AI bubble.” Reuters noted that the IPO represents a “key move to gauge investor interest in AI against the rising valuations of unlisted AI firms.”
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