Anthropic, the developer of the artificial intelligence (AI) model "Claude," has begun the process of going public in the United States.
The company said Wednesday that it had confidentially submitted a draft registration statement with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO). "Once the SEC review is complete, we will have the option of whether to list," Anthropic said. "Whether to actually proceed with a public offering will depend on market conditions and other factors."
Last month, Anthropic raised $65 billion in new funding at a valuation of $965 billion (about 1,460 trillion won). That exceeds the $852 billion valuation given to ChatGPT maker OpenAI in March. OpenAI is also preparing prospectus and other documents to file with securities regulators but appears not to have submitted them yet.
Anthropic and OpenAI, both targeting listings within the year, are reportedly competing to be first to the IPO market. With Elon Musk's space company SpaceX and others preparing to list (on the 12th of this month), being earlier in the IPO queue is seen as advantageous for fundraising. Bloomberg said, "This makes it increasingly likely that Anthropic will list on the New York Stock Exchange this fall, beating OpenAI."
Anthropic and OpenAI have been engaged in fierce competition since last year, rolling out various AI models in fields such as coding, financial services, and healthcare. Anthropic expects second-quarter revenue of $10.9 billion, more than double the previous quarter.
