Anthropic, the company behind the Claude family of AI models, confidentially filed an S-1 (IPO registration document) with the US SEC on June 1, 2026, at a potential valuation of up to $2 trillion. That would exceed SpaceX’s recently established valuation of roughly $1.8 trillion and rank among the largest public offerings in market history. Anthropic’s public prospectus is expected in late September 2026, followed by IPO marketing by mid-October. Morgan Stanley, Goldman Sachs, JPMorgan and Citi are involved in the offering. The company completed a $65 billion Series H round in May 2026, reaching a post-money valuation of roughly $965 billion, while its revenue run rate was approximately $47 billion as of May. Q2 revenue is projected to exceed $10.9 billion, with investor forecasts placing 2026 annual revenue at $100 billion to $120 billion and 2028 revenue at $190 billion to $200 billion. Anthropic is also arranging a $15 billion revolving credit facility. The offering may include insider share sales, extended lockups and supervoting shares (shares carrying extra voting power), potentially preserving leadership control after listing. CEO Dario Amodei reportedly owns about 2% of the company. OpenAI has reportedly considered delaying its own IPO until 2027, while Anthropic’s filing is prompting other companies to complete their deals first as they seek valuations before the offering draws substantial investor attention and capital.