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

Anthropic announced on June 1 that it confidentially filed to go public with the SEC, following a $65 billion Series H funding round at a post-money valuation of $965 billion, which surpassed OpenAI's $852 billion valuation from its $122 billion private funding round earlier in the year.

Anthropic is positioned to pursue a $1 trillion IPO valuation at a 20x forward revenue multiple, compared to OpenAI's potential 40x multiple. CEO Dario Amodei stated in February that the company is 'spending somewhat less than some of the other players,' and media reports suggest Anthropic expects to hit a nearly $50 billion annualized revenue run rate by end of June, up from $30 billion in April, and turn an operating profit in the current quarter.

Whether Anthropic actually proceeds with an IPO will depend on market conditions and other factors, according to the company's statement. Polymarket bettors placed a 53% chance as of June 3 that the stock closes its first day of trading at a market cap over $1.8 trillion.