Anthropic, the AI company behind Claude models, has filed a draft S-1 registration statement with the U.S. Securities and Exchange Commission for an initial public offering (IPO). The filing comes after a remarkable revenue growth trajectory, with its annualized revenue run-rate soaring from about $87 million in January 2024 to $47 billion by May 2026. Founded in 2021 by Dario and Daniela Amodei along with former OpenAI researchers, Anthropic has primarily benefited from enterprise demand, particularly through its Claude Code tool, which achieved $1 billion in annualized revenue shortly after its launch in mid-2025. Approximately 80% of its revenue is generated from business customers, with over 300,000 firms utilizing its services. The company’s valuation reached $965 billion following a recent funding round. However, caution is advised as the run-rate may overstate sustainable performance, and revenue accounting methods could inflate figures compared to competitors. The decision to proceed with the IPO will depend on market conditions, with share pricing and quantity yet to be determined.