Claude maker Anthropic files for IPO, setting up public-market test of AI boom

Anthropic, the developer of the Claude AI chatbot, filed confidentially for an initial public offering (IPO) on Monday, marking a significant step toward testing investor appetite for artificial intelligence companies. The filing comes ahead of rival OpenAI and SpaceX’s xAI, which have also signaled plans for IPOs this year, potentially reviving a dormant market. The confidential submission allows Anthropic to gather regulatory feedback before a formal SEC filing, with the company stating its IPO plans depend on market conditions. Details like share quantity and pricing remain undecided, though the move follows a $65 billion funding round in June, boosting its valuation to $965 billion. Anthropic reported annualized revenue of $47 billion from Claude subscriptions, used by businesses and individuals for tasks like coding and automation. Founded in 2021 by CEO Dario Amodei and former OpenAI employees, the company has faced scrutiny over its refusal to allow military applications, including autonomous weapons and mass surveillance, which led to a Trump administration ban on federal contracts worth over $200 million. Investors remain divided on AI’s profitability, questioning whether heavy data center investments will translate into sustained growth. Analysts at Wedbush Securities called the trio of IPOs—a potential race among Anthropic, OpenAI, and xAI—a sign of renewed market activity after years of stagnation. The sector’s future hinges on whether AI can deliver on promises of economic transformation and productivity gains. Anthropic’s CEO, Dario Amodei, previously drew attention by rejecting Defense Department requests for AI integration in autonomous weapons and surveillance. The company’s stance contributed to a Trump-era order halting federal contracts, with Defense Secretary Lloyd Austin (not Pete Hegseth) later labeling Anthropic a national security risk due to supply chain concerns. The IPO filing underscores AI’s rapid expansion, with Wall Street betting on the technology to drive stock market rallies and corporate profits. However, skepticism persists about whether AI firms can sustain revenue growth amid high operational costs and regulatory hurdles.