Anthropic, the artificial intelligence company behind the popular chatbot Claude, has taken a major step toward becoming a publicly traded company by filing confidentially with the US Securities and Exchange Commission for an initial public offering (IPO) this year, the BBC reported on Monday.

Confidential Filing and Market Potential

The firm, which recently raised $65 billion in funding, was valued at $965 billion post-money, making it the most valuable AI startup in the world, and that valuation surpasses that of its rival, OpenAI, which is currently valued at $852 billion, according to the firm’s most recent private investment figures.

Anthropic did not disclose the price or number of shares to be offered in the IPO, stating that those details have not yet been finalized. The company also has not announced its target valuation for the public market, a common practice for firms in the early stages of an IPO process.

Founder and Rivalry with OpenAI

Founded just five years ago by CEO Dario Amodei and a small group of executives, Anthropic has grown rapidly to challenge the dominance of other AI firms. Amodei previously worked at OpenAI. The company he left after disagreements with its chief executive, Sam Altman.

Since its founding. Anthropic and OpenAI have become fierce competitors in the AI space, each developing similar technologies and vying for the attention of both individual users and corporate clients. Anthropic’s chatbot, Claude, has gained popularity among software engineers and other business users.

In February, the company was valued at $380 billion, and its valuation has more than doubled since then. The recent $65 billion funding round highlights the growing investor interest in the AI sector and Anthropic’s potential for future growth.

Broader AI Industry Trends

Anthropic’s IPO plans reflect a broader trend in the AI industry, where companies are increasingly seeking public market funding to support their expansion. Elon Musk’s SpaceX is also preparing for an IPO, having filed for a stock market listing with a target valuation of approximately $1.75 trillion and seeking $75 billion in investment.

With both Anthropic and OpenAI expected to go public this year, the financial stakes in the AI race are rising. The companies are competing not only in technological innovation but also in the race for capital and market recognition.

Further details on Anthropic’s IPO, including its target valuation and share structure, are expected to be released in the coming weeks as the company moves through the SEC review process.