Anthropic’s monster IPO is forcing rivals to rethink their own listing plans

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Anthropic is shaping up to be exactly that. The AI firm behind the Claude model series filed its draft S-1 with the SEC on June 1, 2026, setting the stage for what could be the largest technology debut in US market history. The company is targeting a Nasdaq listing with a valuation that analysts are placing somewhere between $1.5 trillion and $2 trillion. The size of the thing Anthropic closed a $65 billion funding round in May 2026, which valued the company at $965 billion before a single share hits the public market. The anticipated offering is expected to raise at least $86 billion, putting it in the same conversation as SpaceX’s $86.2 billion debut. Goldman Sachs, JPMorgan, and Morgan Stanley are leading the underwriting. The public prospectus is set to drop after Labor Day, with the holiday falling on September 7, 2026. A first trade is being targeted for late September or early October. The Federal Reserve has a mid-September meeting scheduled, and mid-term elections add another layer of market noise later in the year. The deal structure may include longer lockup periods than the standard 180-day window. Existing shareholders are also expected to have the opportunity to sell ...

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