On Monday, Anthropic announced that it confidentially submitted a draft registration statement to the U.S. Securities and Exchange Commission.

Anthropic Starts IPO Process With Confidential SEC Filing

"The proposed initial public offering will depend on market conditions and other factors," the company said, adding that the confidential filing gives it the flexibility to pursue a public listing once the SEC review process is complete.

The filing places Anthropic ahead of rival OpenAI, which is reportedly preparing its own confidential IPO filing, while Elon Musk's SpaceX has already submitted its prospectus.

Market Commentators Predict Massive AI Valuations

Market commentary platform The Kobeissi Letter wrote on X that Anthropic could potentially surpass a $1.8 trillion market capitalization on its first trading day.

It also suggested that combined valuations for Anthropic and SpaceX could exceed $3.5 trillion.

Source: X

Read Also: Daniela Amodei Called Leaving OpenAI A 'Crazy Thing To Do' — How She Overcame Hesitation To Found Anthropic, Now The World's Most Valuable Startup

Daniel Newman Calls Anthropic The ‘Third' Trillion-Dollar IPO

Futurum Group CEO Daniel Newman framed the filing as another milestone in AI's rapid rise.

"And here we go, Anthropic," Newman wrote on X. "The third of the trillion dollar IPOs for 2026 has officially started the process."

Source: X

Jim Cramer Highlights Salesforce's Anthropic Investment

CNBC host Jim Cramer pointed to Salesforce, Inc.'s (NYSE:CRM) investment in Anthropic as a potential winner from the startup's IPO ambitions.

"Salesforce has done a lot of things right and this investment worth $5 billion in Anthropic is one of them," Cramer wrote on X.

Source: X

Timeline And The Rise Of Claude Maker Anthropic

A confidential filing does not lock Anthropic into a set IPO timeline. The company only needs to publicly release its prospectus at least 15 days before starting its investor roadshow.

SpaceX, for example, confidentially filed on April 1 and released its public prospectus on May 20.

Founded in 2021 by former OpenAI executives and researchers who left over concerns about the company's direction, Anthropic is best known for its Claude family of AI models, including its coding assistant, Claude Code.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Read Also: Bill Gurley Says Anthropic Isn't Building Software—It's 'Midwifing A Deity'

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