Anthropic files confidential IPO paperwork, seeking to become one of the largest public debuts ever

Anthropic submitted confidential IPO paperwork to US regulators on Monday. The company is valued at $965 billion and announced the filing in a blog post, noting that the amount of money it seeks to raise and the valuation have not been set. Timing depends on market conditions and other factors.

Anthropic's annualized revenue, based on sales from an unspecified time frame last month, is $47 billion, though the company has reported losses due to spending on cloud computing and staff. The filing allows regulators to give feedback on Anthropic's goals, finances, and challenges before the company can make edits.

US Defense Secretary Pete Hegseth sanctioned Anthropic earlier this year under two government supply-chain laws, removing Claude AI models from the military and federal agencies. Anthropic executives said the designations threaten to cost the company billions of dollars in sales, and the company has sued to overturn them in ongoing court battles.