Anthropic files confidentially for IPO in race with OpenAI

NEW YORK - Anthropic PBC has confidentially submitted draft paperwork for a public listing as it races longtime rival OpenAI to make a Wall Street debut as soon as this fall. 

“The number of shares to be offered and the price have not yet been set,” the company said in a blog post on June 1.

Anthropic, OpenAI and SpaceX are all moving ahead with listing plans to open a powerful channel for potential fundraising.

While funding in the private market has grown by leaps and bounds, a public listing gives the companies access to the widest possible range of investors. It also gives early backers and employees the ability to more easily monetise their stakes.

Anthropic recently raised US$65 billion (S$83 billion) in a funding round at a US$965 billion valuation, including the investment, eclipsing rival OpenAI’s value for the first time. Anthropic has seen a surge in demand as customers look to use its tools to streamline coding and other tasks.

Founded in 2021 by a group of former OpenAI employees, Anthropic has since emerged as a leader in the AI sector. Anthropic has developed a series of AI tools aimed at overhauling the way businesses handle tasks from coding to cybersecurity. 

Anthropic and rival OpenAI have been one-upping each other in recent months. Rival OpenAI itself was said to be preparing its own confidential filing for an initial public offering in the coming weeks and was targeting a public debut sometime in the fall, Bloomberg reported in May.

Goldman Sachs, JPMorgan Chase and Morgan Stanley are expected to be under consideration for key roles on Anthropic and OpenAI’s listings, people familiar with the matter have said.

Getting out first could give Anthropic more attention and capital from a greater pool of investors. BLOOMBERG