Anthropic has confidentially filed a draft IPO registration with the US Securities and Exchange Commission (SEC). The company behind the chatbot Claude is valued at just under $1 trillion after its latest funding round. Competitor OpenAI is also gearing up for an IPO. The race for investor dollars in the AI sector is heating up.

Claude maker Anthropic said Monday that it confidentially filed to launch an IPO in the U.S. following another huge funding round.

Anthropic files draft S-1 for IPO at $965B valuation, potentially beating OpenAI to Wall Street this fall, with projected Q2 revenue of $10.9B and first profitable quarter.

The company said Monday it has filed confidentially for an IPO.

No price or number of shares have been set yet.