Anthropic filed a confidential registration statement with the U.S. Securities and Exchange Commission on June 1, advancing plans for an IPO that could arrive in late September or early October. The Claude developer plans to publish its prospectus after Labor Day on Sept. 7 and has appointed Morgan Stanley, Goldman Sachs and JPMorgan as lead underwriters. Its annualized revenue run-rate reached about $47 billion in early May, rising from roughly $9 billion to $10 billion at the end of 2025, while it is targeting an expected first quarterly operating profit of about $559 million in the second quarter of 2026. A $65 billion Series H round valued Anthropic at $965 billion, while its implied private-market valuation reached $1.17 trillion as of Sept. 2, according to the NYSE OpenVC Unicorn Index. The company has raised more than $130 billion privately, and secondary sales could allow early shareholders and employees to sell holdings in the offering. If completed as envisioned, the IPO could exceed SpaceX's $86 billion June 2026 public debut. Investors remain focused on Anthropic's operating efficiency, profitability and the economics of scaling frontier AI models as it competes with OpenAI.