Anthropic, the AI research company behind Claude, will soon join a crowded race to market alongside SpaceX, which began trading on June 12, and OpenAI, which hasn’t announced its market opening date.
Anthropic confidentially filed with the Securities and Exchange Commission one week before OpenAI, but the race is on to be the first to come to market. “The proposed initial public offering will depend on market conditions and other factors,” the company said in a statement.
With the latest private funding round of $65 billion, valuing the company at $965 billion, Anthropic is widely expected to achieve an IPO valuation of $1 trillion or more, in line with OpenAI’s expectations but far short of SpaceX’s valuation of more than $2 trillion.
How can you get in on the IPO? We will update this article as new information becomes available, but in the meantime, here’s what you need to know.
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1. Watch for more details in Anthropic’s S-1 filing
The financial details of the SEC filing for an initial public offering will be released at least 15 days before a company’s roadshow — its pitch to institutional investors. That could be weeks or months, depending on when Anthropic aims to launch its IPO.
Once it’s public, investors will likely be able to see key financial metrics, including revenue, losses, user data, growth trajectory, and risk factors.
2. Claude trails ChatGPT and Gemini, but competition is growing
Anthropic’s AI tool, Claude, was released in 2023, a few months after OpenAI’s ChatGPT, and has since grown into a widely used alternative.
ChatGPT has maintained its lead in the space, with a 50% share of website visits among leading AI platforms in March 2026. However, that’s down from 66% in July 2025, according to market intelligence firm Sensor Tower.
Google’s Gemini had a 22% share in March, while Claude had 10% of the market.
Read more: OpenAI IPO: 6 things to know before you buy the stock
3. Anthropic says Claude ‘builds itself’
Anthropic says that AI skills are improving at an astounding rate. The company estimates that the number of tasks AI can reliably complete on its own is doubling about every four months.
The company said that Claude can now be handed an underspecified engineering problem and figure out how to solve it, matching or outperforming human cognitive abilities, according to a recent blog post entitled “When AI builds itself.”
However, the company says that “if it were possible to effectively slow the development of this technology to give ourselves more time to deal with its immense implications, we think that would likely be a good thing,” but also notes that it could allow others to catch up, leaving everyone less safe.
4. Anthropic CEO has called for stronger AI oversight
CEO Dario Amodei recently issued a plea for government regulation, warning of “the very real risks” that AI poses to cybersecurity. He noted “the potential for disruption of the financial sector, critical infrastructure, and national security,” and even “biological risks” are possible. He referenced the “When AI builds itself” thesis noted above as evidence.
He recommended serious and binding regulation of AI.
“I believe the best analogy, at least at the current stage of the exponential, is to cars, airplanes, or drugs — powerful technologies essential to the modern economy, but capable of killing large numbers of people if designed or operated poorly.”
Amodei added that even more stringent oversight may be necessary, perhaps soon, “when the most powerful AI systems look less like airplanes or automobiles and more like weaponizable nuclear materials — a threat to humanity rather than ‘just’ a threat to public safety.”
Anthropic is currently meeting with the Trump administration regarding its latest AI models, Fable 5 and Mythos 5, following a government directive to disable access.
5. How the Anthropic IPO investor process could work
The brokerage firms that will be allocated Anthropic IPO shares for retail investors have not yet been announced. When they are, we will update this article with that information and also include any investor requirements (such as minimum account balance) that each brokerage stipulates.
In the meantime, the process generally works as follows:
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You will complete an investor profile.
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A prospectus will be made available, including a company profile and details of the stock offering.
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You will place a conditional offer (an “indication of interest”) specifying the number of shares you wish to purchase (typically with a minimum of 100 shares) and the maximum price you are willing to pay per share. This does not guarantee you will be allocated shares.
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You will want to ensure you have sufficient cash in your investment account to cover the cost of the stock purchase.
You will learn if you are allocated any shares the night before or early on the morning of the IPO.
See related: SpaceX IPO: Last-minute strategies on how you can invest