Openai rival Anthropic files S-1, eyes IPO in two to three months
openai rival Anthropic confidentially filed its S-1 with the Securities and Exchange Commission on June 1. The company could go public in as little as two to three months. That would put a pure-play generative AI company on the public market for the first time.
Anthropic’s June 1 filing
The filing puts Anthropic on a faster path than most private tech companies get after a confidential submission. For investors, that means the company can move from private valuation talk to public-market scrutiny within the same quarter if the process stays on schedule.
Anthropic said in an April announcement tied to its computing agreement with Alphabet that its annual revenue run rate had exceeded $30 billion. At the end of 2025, that figure was just $9 billion. The jump suggests rapid demand, but it also leaves a wide gap between revenue momentum and the pricing the market may eventually assign.
Anthropic and SpaceX
Anthropic closed a Series H funding round at the end of May that valued it at $965 billion. The article says its IPO market cap could be far higher depending on demand for the stock. That puts the listing in a range where investor appetite, not just reported growth, could drive the first trading price.
SpaceX filed its S-1 with the Securities and Exchange Commission on April 1. It is targeting an initial share price of $135 and a valuation of $1.75 trillion for its IPO on June 12. SpaceX generated $18.7 billion in revenue in 2025, while Starlink is its most profitable business.
Claude versus Grok
Anthropic is widely considered the top generative artificial intelligence company right now. Claude has quickly vaulted into the leadership position as the preferred large language model for coding, and the article says Grok is not on the same level as Claude for integrated business use.
For readers tracking the private-tech pipeline, the practical question is whether Anthropic’s public debut happens before summer trading settles. The market is now comparing a possible AI listing against SpaceX’s larger but more diversified business, and that comparison could shape how investors think about revenue quality, not just size.
