Anthropic, the developer of Claude, filed a confidential S-1 registration with the SEC on June 1. The company is preparing for a potential IPO on Nasdaq, which is expected to take place between October and November. Current market valuations for the company reach $965 billion following a $65 billion Series H funding round in late May.
The company's revenue run-rate reached over $65 billion by July 2026, up from the $9 to 10 billion range recorded at the end of 2025. Projections for the upcoming public listing suggest a valuation between $1 trillion and $2 trillion. Nvidia is reportedly in discussions to act as an anchor investor with a potential commitment of up to $10 billion.
Amazon has provided cumulative commitments of tens of billions of dollars, while Alphabet holds an equity stake of approximately 14%. Goldman Sachs, JPMorgan, and Morgan Stanley are considered as potential underwriters for the offering. Anthropic has cautioned against unauthorized share trading arrangements on secondary platforms like Forge Global and EquityZen.
An investor day is scheduled for mid-September to discuss revenue growth, margins, and enterprise adoption. Analysts note that if the company lists at the lower end of the valuation range, investors who purchased shares on secondary markets at premium prices may face financial risks.
