Anthropic Filed a Confidential S-1 at a $965 Billion Valuation. Here’s How to Buy in Right Now.

Key Points

Following the successful IPO of Space Exploration Technology, the forthcoming anticipated IPO is expected to be that of artificial intelligence startup Anthropic. On June 1, the company filed a confidential S‑1 registration with the Securities and Exchange Commission, advancing its prospectus for a public offering.

Similar to the pre‑IPO environment for SpaceX, most investors will be unable to purchase Anthropic shares directly before the IPO. However, the KraneShares Artificial Intelligence and Technology ETF (NASDAQ: AGIX) already holds shares of Anthropic, providing a way for investors to gain exposure today.

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KraneShares’ investment approach and public holdings

KraneShares invests in both public and private technology and AI companies, allocating 80% of its net assets to the Solactive Etna Artificial General Intelligence Index. This index targets three investable AI domains: hardware, infrastructure, and applications, enabling broader exposure beyond solely chipmakers or software firms.

The ETF’s public holdings are dominated by leading technology firms, with the top five positions comprising Nvidia (the primary holding), Alphabet, Meta Platforms, Microsoft, and Apple. Additionally, it includes SK Hynix, a Korean memory and storage company whose shares are less accessible to U.S. investors.

Private investments

KraneShares obtained a direct investment in Anthropic during a private fundraising round, acquiring roughly 17,800 shares, which represent 1.4% of the ETF’s total assets as of June 17.

In addition to Anthropic, the fund holds a position in SpaceX, with more than 111,000 shares, and owns over 367,000 shares of Nuro, an autonomous vehicle and robotics firm, as well as more than 14,000 shares of prediction‑market operator Polymarket.

The rewards and risks of the KraneShares ETF

The ETF has risen more than 27% in 2026 through June 18. While the majority of its holdings are publicly traded, it also provides exposure to pre‑IPO companies that are generally inaccessible to individual investors. Its focus on AI hardware, infrastructure, and applications reduces concentration risk across a single AI segment.

Nevertheless, the fund carries risks. It may experience short‑term volatility if the anticipated rise preceding the Anthropic IPO subsides after the stock becomes publicly tradable, potentially reducing its attractiveness. Moreover, a broad downturn in AI equities could disproportionately affect the ETF, given its singular focus on the sector.

Consequently, the ETF may be suitable for long‑term investors seeking comprehensive AI exposure and comfortable with holdings in private companies.

Consider Investing in KraneShares Artificial Intelligence and Technology ETF?

Before purchasing shares of the KraneShares Artificial Intelligence and Technology ETF, keep the following points in mind:

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