For years, OpenAI and its ChatGPT assistant dominated artificial intelligence. Then, on June 1, 2026, Anthropic changed everything.
Anthropicconfidentially submitted paperwork to become a public company with a stunning valuation of $965 billion. This surpassed OpenAI's $852 billion valuation for the first time. The company behind Claude AI, founded just five years earlier by former OpenAI employees including Dario Amodei, had become the leader.
Anthropicraised $65 billion from major investors like Sequoia Capital and Altimeter Capital. The company now generates roughly $47 billion in annual revenue and expects to become profitable in 2026.
However, Anthropic faces an unusual challenge. The Pentagon assigned it a "supply-chain risk" designation over a dispute about how Claude could be used. Anthropic refused to allow its technology for autonomous weapons or mass surveillance, despite Pentagon demands. The company took this to court and won a preliminary injunction, but the Pentagon insists the restriction remains active.
This legal battle threatens billions in potential revenue. As Anthropic prepares for its public debut, it carries two competing stories: one of extraordinary success, and another of conflict with America's most powerful customer. Investors now watch to see if the company can maintain its ethical principles while still thriving on Wall Street.