Just now, Anthropic submitted its IPO prospectus ahead of others, aiming for the largest IPO in AI history.

[New Intelligence Yuan Introduction] The battle for the first AI stock has officially begun! Just now, Anthropic secretly submitted its IPO application. Just last week, it completed a $6.5 billion financing at a valuation of $96.5 billion, surpassing OpenAI for the first time in history.

The largest IPO in AI history is really coming!

Just now, Anthropic took the lead over OpenAI and officially fired the first shot in going public ——

Officially announced: It has secretly submitted its S - 1 prospectus to the U.S. Securities and Exchange Commission (SEC).

It was founded in 2021, just 5 years ago.

At the moment of submitting the listing application, its valuation has approached $1 trillion.

But even more astonishing than the sky - high valuation is its incredibly impressive performance: from $900 million half a year ago, it soared all the way to $4.7 billion.

It is reported that the earliest IPO window period targeted by Anthropic is October this year.

Anthropic, which made the first move, along with SpaceX and OpenAI, which are also sprinting. Three giants, three trillion - dollar stories.

In 2026, an unprecedented IPO feast is coming!

Anthropic Submits IPO, Racing Towards Trillion - Dollar Valuation

In the week when SpaceX submitted its IPO application, the WSJ reported that OpenAI also planned to submit its application this week.

Now, OpenAI's move is still pending, but Anthropic has suddenly emerged and completed a wave of "secret blitz" first.

Generally speaking, secretly submitting the prospectus (Confidential S - 1) is a common operation of "quietly building strength" ——

Anthropic submitted its materials to the SEC for private review first, and the financial details and risk factors are not publicly disclosed for the time being.

In short, this move aims to lock in the "admission ticket" for listing in advance. As for when to actually ring the bell and list, it can be decided calmly according to the market trend.

It is reported that this highly anticipated IPO feast will officially kick off as early as October this year.

Seeing the trillion - dollar rival secretly blitz the IPO, Altman said calmly, "The outcome of the AI competition does not depend on who goes public first."

Just last Friday, Anthropic launched a powerful "combination punch":

On the day when Claude Opus 4.8 made a stunning debut, it officially announced the completion of a $650 million Series H financing.

This unprecedented investment directly pushed its post - investment valuation to the throne of $96.5 billion.

A historic moment was born! Anthropic's valuation surpassed OpenAI (about $85.2 billion) for the first time.

You know, three years ago, Anthropic was still the "underdog" that investors doubted could catch up with ChatGPT.

Now, the former pursuer has made a strong comeback and become the new king in the AI track.

Even more terrifying is Anthropic's strong ability to attract capital, as mentioned above ——

Its annualized revenue "run rate" has soared past $4.7 billion. At the end of 2025, this figure was only $900 million.

In just half a year, it increased by 5 times!

It has to be said that this growth curve is an extreme "violent aesthetics" in the entire history of technology.

And this secret submission of the S - 1 just officially writes this race into the script of Wall Street.

Surpassing OpenAI, All Thanks to "Coding"

What enabled Anthropic to achieve such a stunning comeback? The answer is surprisingly simple, just three words:

Coding.

Among the three AI giants racing to go public, Anthropic is the youngest but has the most ferocious growth momentum.

And the fulcrum that leverages this exponential growth almost entirely relies on its unique automatic programming tool, Claude Code.

And the wheel of fate started to turn last autumn.

At that time, Anthropic officially released Claude Opus 4.5, and the official said directly ——

Its programming ability has achieved a "substantial leap in the capabilities of AI systems."

During the Christmas holiday, engineers around the world flocked to Claude Code, and the entire technology circle was almost completely "Claude - pilled" (completely fans).

Subsequently, Claude Cowork, which is targeted at non - engineers, pushed the growth to a new level.

What is even more eye - catching is Anthropic's "restraint" in business layout.

Others are doing all - in - one packages —— browsers, image generation, e - commerce, robots, trying to cover everything.

However, Anthropic refused the temptation of blind expansion.

An analyst from the Info - Tech research institution pointed out the key point in one sentence: Anthropic doesn't want to do everything.

No browser, no image generation, no e - commerce layer.

This strategic determination to "do nothing" has finally translated into an amazing annualized revenue of $4.7 billion.

While everyone else is widening their moats, it chose to dig through a single well.

The Insatiable Computing Power "Black Hole"

However, Anthropic's path to a trillion - dollar IPO is by no means smooth. The first major obstacle in front of it is computing power.

The crazy growth of Claude users has brought about a serious shortage of computing power, which once led to service interruptions and even forced "speed limits."

Dario Amodei used a word to describe the current demand: unprecedented! It has to buy a large number of graphics cards from Microsoft, Amazon, and Google just to keep up.

And the most unexpected ally turned out to be Elon Musk's SpaceX.

Some time ago, Anthropic directly rented all the computing power of the Colossus 1 data center, a total of 220,000 AI chips.

For this computing power, they are paying SpaceX $125 million in computing power service fees every month.

The second hurdle is the fierce game with the Pentagon. So far, this rare showdown has not yet reached a conclusion.

The Three Giants Appear Together

The "Craziest" Wealth - Creation Moment in Wall Street History

Now, in 2026, Wall Street is about to witness a real AI capital drama ——

Anthropic, OpenAI, and SpaceX are queuing up to sprint for IPOs.

Leading the way is SpaceX.

Musk's rocket company will start its roadshow this week and is expected to ring the bell as early as next week.

After merging with xAI, its valuation has soared to $1.25 trillion and may even hit a high of $1.75 trillion at the time of listing.

With an expected fundraising scale of $7.5 - 8 billion, this is very likely to break the IPO record in human history.

And Musk, who holds about 50% of the shares, is also expected to become the world's first "trillionaire" through this battle.

The second one is OpenAI.

As Anthropic's biggest rival, OpenAI is also moving rapidly. According to

previous reports, they are aiming to list in September this year and are preparing to submit their IPO application. Driven by the crazy capital market, OpenAI's valuation ($85.2 billion) is also