Anthropic submitted a confidential draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission. The filing signals the company’s intent to launch an initial public offering.

The developer of the Claude AI models competes directly with OpenAI. Amazon and Google provide significant financial backing for the startup.

The confidential filing keeps financial details private during the SEC review process. Anthropic has not yet determined the timing, share price, or valuation of the potential IPO.

The move follows a period of intense fundraising and competition in the AI industry. Anthropic and OpenAI are reportedly racing to become the first major AI firm to go public.