Anthropic, the developer of Claude AI models, has submitted a draft Form S-1 registration to the SEC. The filing, dated June 1, 2026, outlines plans for an upcoming IPO. A public version of the document is expected between October 23 and October 26, 2026.
The draft filing introduces a provision allowing certain insiders to sell up to 10% of their locked-up shares on the first day of trading. This mechanism is paired with extended lockup periods for the remaining holdings to prevent market volatility.
The company reached a post-money valuation of $965 billion during a private funding round in May 2026. Current discussions regarding the IPO suggest target valuations ranging between $1.5 trillion and $2 trillion.
Financial projections for 2025 estimate revenue at approximately $4.6 billion, with losses projected at $42 billion. For the first half of 2026, revenue is estimated at $16.3 billion, while infrastructure compute commitments exceed $500 billion.
The IPO roadshow is scheduled to begin around November 9, 2026. Trading is anticipated to commence in mid-to-late November 2026, potentially before the Thanksgiving holiday.
