Anthropic is going public

Anthropic says it has confidentially filed for an IPO, which could happen as soon as this fall. The AI startup has filed its documents right behind SpaceX, which is aiming to go public as soon as this month (in June), but ahead of OpenAI, which as far as we know, still hasn’t filed its paperwork. OpenAI wanted to beat Anthropic to the punch, but now Anthropic seems to be in a hurry.

At the end of May, Anthropic was valued at $965 billion. That was more than double Anthropic’s previous valuation in February and above OpenAI's $852 billion valuation in March, making Anthropic the world’s second biggest startup, behind only SpaceX. If all goes well, a $1 trillion market cap is not out of the question for both Anthropic and OpenAI. SpaceX is more likely to be closer to $2 trillion.

Once all three of these startups have gone public, everyone will be calling the market top. That’s assuming all three do go public. There could be a delay for any of them, and that alone would be a canary in the coal mine. None of these companies want to be known as the catalyst that popped the AI bubble. Also, none of them wants to go public before having all their finances in order.

Regardless of what happens, 2026 will continue to be a bumpy ride for the stock market.

This post was originally published as a video on LinkedIn and YouTube.