Artificial intelligence (AI) startup Anthropic has confidentially filed for a US initial public offering, moving ahead of rival OpenAI in the race to enter public markets. The company, known for its Claude AI models and coding assistant Claude Code, did not disclose the size or terms of the offering.

Anthropic’s filing comes after a funding round in May that valued the company at $965 billion, more than double its February valuation. Analysts view the IPO as a major test of investor appetite for AI companies, with Anthropic, OpenAI and SpaceX all expected to seek massive amounts of capital from public markets.

Industry observers say the move gives Anthropic an early advantage in shaping how frontier AI companies are valued on Wall Street. OpenAI is also reportedly preparing for an IPO, though CEO Sam Altman has said the company will go public only when the timing makes sense.