The global artificial intelligence landscape is witnessing a structural shift as top-tier foundation model developers transition from private capital funding cycles to public equity markets. At the centre of this transition is Anthropic, which confidentially submitted a Form S-1 draft registration statement to the U.S. Securities and Exchange Commission (SEC) on June 1st, 2026. Coming on the heels of a $65 Billion Series H funding round that valued the enterprise at $965 Bill