The $965B AI lab that just filed to go public.
Anthropic closed a $65B Series H at a $965B valuation in May — eclipsing OpenAI — then filed confidentially for an IPO on June 1. A fall debut is on the table. Bidness tracks every signal between here and the bell.
The price of staying private
Live read on the company
What we're watching
S-1 Filing
Confidential S-1 filed June 1, 2026. The clock to a public debut is running — fall is on the table.
Banker Syndicate
Underwriters lining up for a potential fall listing. League-table slots are the tell.
Race vs OpenAI
Filed a week ahead of OpenAI. Polymarket gives Anthropic 78% to reach the tape first.
Revenue Ramp
$47B run-rate and nearing first operating profit — exactly the fundamentals underwriters want.
Series H at $965B was the last-private-round signal. Confidential S-1 filed June 1 — ahead of OpenAI. $47B run-rate, nearing first operating profit. This is a 2026 listing; the only question is whether it beats OpenAI to the tape.
How to play it in the public market
$8B invested to date and the primary cloud partner. Direct mark-to-market on every Anthropic round.
Investor and compute partner. Read-through on every valuation step-up.
The compute under the whole AI buildout. Anthropic capacity = GPU demand.
Salesforce holds a stake reportedly worth ~$5B. Enterprise Claude distribution.
The road to first trade
- 2026-06
Confidential S-1 filed
Anthropic files confidentially on June 1, ahead of OpenAI. Fall debut on the table.
- 2026-05
Series H at $965B
$65B round — likely the last private raise — vaults Anthropic past OpenAI to most-valuable AI lab.
- 2026-02
Series G at $380B
GIC and Coatue lead a $30B round. The run-rate is compounding.
- 2025-09
Series F at $183B
ICONIQ-led round triples the valuation as Claude Code revenue explodes.
- 2021
Anthropic founded
Dario and Daniela Amodei found Anthropic, an AI safety lab, after leaving OpenAI.