Українська
Русский
English
Anthropic, SpaceX, and OpenAI Are Heading to the Stock Market: Combined Valuation Approaches $4 Trillion
Anthropic filed a draft S-1 registration statement with the U.S. Securities and Exchange Commission on June 1, 2026, marking the company's first official step toward a public listing.
The exact number of shares and pricing range have not yet been determined. The final decision to proceed with the IPO will depend on market conditions.
Anthropic Beats OpenAI to the Market
Notably, Anthropic has moved ahead of its primary competitor, OpenAI, in the race toward becoming a publicly traded company.
As of late May 2026, OpenAI was reportedly preparing to file its own S-1 registration statement within weeks, targeting a public offering later in the year. Anthropic, however, reached this milestone first.
Shortly before filing, the company completed a massive funding round.
In late May 2026, Anthropic raised $65 billion in a Series H round at a post-money valuation of $965 billion.
The round was led by:
- Altimeter Capital;
- Dragoneer Investment Group;
- Greenoaks Capital;
- Sequoia Capital.
The financing became one of the largest funding rounds ever completed in the artificial intelligence sector.
Three Trillion-Dollar IPOs
Anthropic's IPO comes amid two other potentially historic public offerings.
SpaceX, founded by Elon Musk, reportedly filed a public S-1 in May 2026 and plans to list on Nasdaq under the ticker SPCX around June 12, targeting a valuation of approximately $1.8 trillion.
Meanwhile, OpenAI is reportedly targeting a valuation of roughly $1 trillion in a public offering expected during the second half of 2026.
Based on estimates available in early June 2026, the combined valuation of the three companies could reach between $3.7 trillion and $4 trillion.
That figure is comparable to the GDP of some of the world's largest economies.
About Anthropic
Anthropic was founded in 2021 by former OpenAI employees, including CEO Dario Amodei.
The company develops the Claude chatbot and has been expanding aggressively into coding models, AI agents, and enterprise applications while recording substantial revenue growth in recent years.
If completed, the IPO would rank among the largest technology offerings in history.
Its $965 billion valuation places the company within reach of the symbolic $1 trillion threshold, a milestone achieved by only a handful of public companies worldwide.
AI Perspective
From a corporate governance perspective, there is one particularly unusual aspect of Anthropic's IPO structure that is often overlooked.
The company operates as a Public Benefit Corporation (PBC) and includes a unique governance body known as the Long-Term Benefit Trust (LTBT), which is expected to gain the authority to appoint a majority of the board of directors over time.
As a result, ordinary shareholders may have limited influence over the company's long-term strategic decisions after the IPO.
There are very few precedents for public companies with a governance structure of this kind, and the SEC will likely require detailed disclosures explaining how the LTBT's authority aligns with the interests of public investors.
Historical trends are also worth noting. According to estimates from Goldman Sachs, the U.S. IPO market could raise a record $160 billion in 2026—nearly four times the amount raised in 2025.
Three mega-IPOs arriving simultaneously may create both enthusiasm and liquidity pressure. Whether public markets can absorb such a large supply without significant valuation adjustments remains an open question—one that the first wave of shareholders will soon answer.
See also: "Bitwise says Hyperliquid is targeting a $600 trillion market as the platform expands beyond crypto"
