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Anthropic, the maker of the Claude chatbot, is the largest pure-play AI lab in the world. Its most recent private fundraising round back in May valued it at $965 billion , putting it ahead of its rival OpenAI, most recently valued at $852 billion . And that's Anthropic's valuation before its upcoming blockbuster initial public offering.

In late October, Anthropic published an investment prospectus ahead of an expected November IPO that could value the company at $1.5 trillion or more.

Below, we're breaking down what we know about Anthropic's IPO, the platforms that may allow retail investors to participate, Anthropic's current financial situation, and your options for indirectly investing in Anthropic before the IPO.

What’s the deal with Anthropic’s IPO?

On Oct.…