Anthropic files confidential S-1, blazing toward blockbuster IPO

Anthropic CEO Dario Amodei in May. Don Feria/AP Content Services for Anthropic Anthropic just filed a confidential S-1 draft for its highly anticipated IPO. Anthropic and OpenAI are in a race to IPO, staking claims on the lucrative AI market. Expected IPOs of Anthropic and OpenAI could value each company at over $1 trillion. The race to IPO is on: Anthropic just filed its confidential S-1 draft. On Monday morning, the AI juggernaut announced it had turned in its first IPO proposal to the U.S. Securities and Exchange Commission. It's a major step in the rush toward a public listing, as Anthropic and rival OpenAI race to claim billions of dollars and stake their claim on the AI narrative. A confidential S-1 filing usually comes about six to nine months before a company actually hits the public markets , though that range can vary widely. OpenAI is also racing to IPO, with Business Insider reporting in mid-May that the ChatGPT-maker was preparing its own confidential prospectus. It hasn't been confirmed whether OpenAI has filed its confidential S-1 yet. The company did not immediately respond to Business Insider's request for comment. Anthropic declined to comment. The rivals' IPOs are each widely expected to place the companies at valuations above $1 trillion, marking a seismic shift in the public markets and a landmark in the fast-moving era of AI. Just last week, Anthropic boosted its valuation to $965 billion in a new funding round. This is a developing story. Read the original article on Business Insider