Anthropic files confidential S-1 at a $965B valuation, topping OpenAI's private mark
One week after closing a $65B Series H led by Altimeter, Dragoneer, Greenoaks, and Sequoia, Anthropic submitted a confidential draft S-1 to the SEC — a concrete IPO step, with share count and pricing still unset. The $965B post-money valuation now places Anthropic above OpenAI in the private-market rankings, a capital signal that the frontier-model race is converging on public markets.
Source: anthropic.com ↗
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.
Anthropic
Why this matters
- → Anthropic's $965B valuation now exceeds OpenAI's private-market valuation, reshaping competitive rankings in frontier AI.
- → Confidential S-1 filing signals imminent IPO, bringing venture-backed AI labs to public capital markets.
- → The filing follows a $65B Series H close, demonstrating sustained investor appetite for AI infrastructure at scale.
AI goes public
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