Anthropic, developer of the Claude chatbot, filed a confidential S-1 draft with the Securities and Exchange Commission on June 1, unofficially beginning the countdown to its public market debut. The company’s most recent fundraising round in late May gave it a valuation of $965 billion. Two paths to gain exposure before the IPO include investing in major partners Amazon and Alphabet, with estimates putting Amazon’s stake at between 15% and 20% and Alphabet’s at about 14%. Another option is the KraneShares Artificial Intelligence and Technology ETF (NASDAQ: AGIX), which invests in both public and private companies; Anthropic is currently the ETF’s largest private investment, at about 1.7% of net funds, and the fund charges an annual fee of 0.99%.