Anthropic confidentially files for IPO after raising $65 billion at a $965 billion valuation

Anthropic submitted confidential draft paperwork for a public listing, potentially debuting as soon as this fall. The company recently raised $65 billion in funding at a $965 billion valuation, eclipsing OpenAI's value for the first time.

Anthropic expects to post $10.9 billion in revenue for the second quarter, more than doubling from the prior three-month period, and is on pace for its first profitable quarter. The company has told investors its annualized run rate revenue will surpass $50 billion by the end of next month.

Anthropic is currently locked in a legal battle with the US government after the Pentagon declared it a supply-chain risk. Anthropic has said the Trump administration's move could jeopardize billions of dollars in revenue.