Anthropic PBC today disclosed that it has confidentially filed to go public.

The company didn’t share any details about its planned listing in the brief blog post that announced the move. Anthropic is widely expected to hold its public offering this year. The stock sale will likely give it a market capitalization above $965 billion, the valuation it received after its most recent funding round.

The timing of today’s announcement is notable. Recent reports indicate that Anthropic may have closed its first profitable quarter over the weekend, an important milestone that could significantly boost investor interest in the IPO.

Last month, sources told CNBC that the company would only turn a profit if its second-quarter revenue exceeded $10.9 billion. Last week, Anthropic disclosed that its annual run-rate has topped $47 billion, which amounts to $11.75 billion per quarter. The company’s annualized revenue has more than tripled since February.

One of the main contributors to Anthropic’s growth is Claude Code, the programming-optimized version of its chatbot. The service’s annualized revenue passed $2.5 billion within less than a year of its launch into general availability. Claude Code is powered by the company’s Claude series of large language models. 

Anthropic’s plan to release “Mythos-class” LLMs in the coming weeks could further boost the interest around Claude Code, particularly among companies looking to improve their cybersecurity. Claude Mythos Preview is a model the company announced in April but didn’t broadly release. According to Anthropic, its researchers have used it to find high-severity vulnerabilities in every major operating system and browser. 

Large enterprises are also an important source of revenue for Anthropic. This past February, the company revealed that the number of customers who spend more $1 million per year on its services had topped 500. It had a few dozen such users two years earlier.

The upcoming IPO will unlock liquidity for Anthropic’s institutional backers, which have invested more than $90 billion in the company since the start of the year alone. Additionally, the proceeding from the listings should make it easier for the AI provider to finance its considerable infrastructure investments. In April, Anthropic committed to using more than $100 billion worth of Amazon Web Services Inc. services over 10 years. It earlier agreed to purchase several gigawatts worth of computing capacity from Broadcom Inc. and Google LLC.

Another Anthropic infrastructure partner, SpaceX Corp., published its IPO filing last week. The document revealed that Anthropic had agreed to pay the company $1.25 billion per month through 2029 for access to its AI supercomputers. SpaceX, which develops not only rockets but also LLMs that compete with Claude, hopes to raise as much as $75 billion.

OpenAI Group PBC is expected to hold its listing by year’s end. In a CNBC interview, Chief Executive Officer Sam Altman addressed Anthropic’s IPO filing by stating that the ChatGPT developer will go public “when we think it makes sense.” OpenAI reportedly hopes to raise at least $60 billion at a valuation of up to $1 trillion. 

Image: Anthropic