Anthropic, the artificial intelligence company behind the Claude chatbot, has confidentially submitted draft paperwork for an initial public offering, marking a significant milestone in the competitive race among AI companies to reach public markets.

The filing positions Anthropic to potentially leapfrog its longtime rival OpenAI in reaching Wall Street, with a debut possibly occurring as soon as fall 2026.The company announced in a blog post that the number of shares to be offered and the price have not yet been determined.This confidential submission to the U.S.Securities and Exchange Commission gives Anthropic the opportunity to go public once the SEC completes its review.The timing of the IPO will depend on market conditions and various other factors.

This development comes just one week after Anthropic revealed it had secured $65 billion in private funding, elevating its valuation to an impressive $965 billion.

This staggering figure positions the five-year-old company among the most valuable startups globally and surpasses OpenAI's valuation in the competitive AI landscape.

The company's Claude chatbot has seen surging demand, particularly in coding and business applications, driving revenue growth that is expected to more than double to $10.9 billion in the second quarter.Anthropic's IPO filing is part of a broader trend of major technology companies preparing for public listings in 2026.

Alongside Anthropic, both SpaceX and OpenAI are also anticipated to enter public trading soon, with OpenAI reportedly preparing its own confidential filing.Bankers working on these deals expect Anthropic's IPO to raise more than $60 billion, potentially making it one of the largest IPOs in history.

The company, founded in 2021 by former OpenAI leaders, has distinguished itself through a focus on caution, coding capabilities, and business clients.This strategic approach has helped Anthropic move from a distant contender to the front of the AI race.

Financial documents suggest the company is on track to achieve operating profitability much faster than OpenAI, which could make it particularly attractive to public market investors.