The maker of Claude is valued at $965 billion after its May Series H confidentially submitted a draft registration statement to the SEC, opening the door to a potential public listing later in 2026.
The Filing in brief
On 1 June 2026, Anthropic, PBC confirmed it had confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. The filing is a standard first step under SEC rules; it does not set a listing date, a share count, or a price. Those details will only emerge once the SEC completes its review and Anthropic opts to proceed, conditional on prevailing market conditions.
The announcement arrives just days after Anthropic closed its $65 billion Series H funding round led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, valuing the company at $965 billion post-money. That round pushed Anthropic past OpenAI's $852 billion valuation, making it the world's most valuable private AI company at the time of filing.
Anthropic's financial trajectory
Anthropic's revenue has scaled from under $1 billion annualized in late 2024 to over $47 billion in run rate by mid-2026, driven by the explosive adoption of Claude across enterprise coding, agentic workflows, and API integrations. Claude Code alone accounts for roughly $2.5 billion in annualized revenue. Anthropic is on track to post its first-ever operating profit, estimated at approximately $559 million in Q2 2026.
Valuation brief
The company's valuation has re-rated multiple times in the past year alone. The funding trajectory is one of the steepest in venture capital history. Founded in 2021 by Dario and Daniela Amodei and others who departed OpenAI, the company reached $4.1 billion in early 2023 before a series of mega-rounds carried it to $965 billion last week, with a $65 billion Series H closing May 28.
SpaceX, OpenAI, and Anthropic are racing to ring the bell
Three of the most valuable private companies in history are converging on public markets in the same window, a dynamic not seen since 1999. Goldman Sachs analysts, as cited by Reuters and Nasdaq, project that total 2026 IPO proceeds could reach approximately $160 billion, a near quadrupling from 2025, and that estimate was formed before the current wave fully took shape.
Institutional demand for pure-play AI exposure is a key driver. Investors who have spent years gaining AI exposure indirectly through Nvidia, Microsoft, and Alphabet will have the chance to own frontier model developers outright.
The GCC’s Existing Footprint in Anthropic
The Gulf's sovereign wealth funds were early movers. Qatar Investment Authority (QIA) participated in the February 2026 Series G. GIC (Singapore's sovereign fund) co-led that round. The GCC as a whole has committed over $30 billion to AI infrastructure by early 2025, and MENA technology spending is projected to reach $169 billion in 2026. Saudi Arabia's HUMAIN, backed by the Public Investment Fund, is now a key player in frontier AI infrastructure alongside Anthropic's cloud partners Google and Amazon.
How GCC investors can gain exposure today
Because Anthropic remains privately held, most investors, retail and institutional alike, cannot buy its shares directly. However, GCC investors have a meaningful advantage that one of the few public ETFs offering direct Anthropic exposure is listed right here in the region, on the Abu Dhabi Securities Exchange.
AGIX on the ADX
AGIX was listed on the Abu Dhabi Securities Exchange on 16 April 2026, making it the first public-private AI ETF accessible to GCC investors from a regional exchange. As of April 9, 2026, Anthropic represented approximately 1.02% of AGIX net assets as of 29th May, 2026. AGIX also holds 2.09% of SpaceX.
AGIX acquired its Anthropic stake directly on the company's capitalisation table in February 2025, at a valuation of approximately $61.5 billion. Given Anthropic's Series H valuation of $965 billion, that entry point implies a theoretical mark-up of roughly 15.7x on the original cost basis, though the ETF's reported NAV would already have incorporated interim fair-value adjustments. The fund has outperformed its public-market benchmark by over 10% since adding its private AI positions, according to KraneShares.
