Anthropic made its initial public offering filing public on Monday, giving investors the clearest look yet at the finances, spending commitments and risks behind the maker of Claude. The company plans to list its Class A common stock on the Nasdaq Global Select Market under the symbol ANT, with both Anthropic and existing shareholders selling shares. Goldman Sachs and Morgan Stanley are named first among 24 underwriters. The filing does not yet set a share count or price range, and CNN reports trading could begin as soon as November 16.
The growth numbers are extraordinary. Anthropic reported revenue of 16.29 billion dollars for the six months ended June 30, 2026, up about 1,300 percent from 1.16 billion dollars a year earlier. Full-year revenue was 4.59 billion dollars in 2025, up from 386 million dollars in 2024 and 41 million dollars in 2023. The filing follows a confidential submission in June and a May round that raised 65 billion dollars at a 965 billion dollar valuation.
The headline loss needs context. Anthropic recorded a net loss of 80.7 billion dollars in the first half, but most of it came from a 72.4 billion dollar charge for changes in the fair value of convertible notes and other instruments, driven primarily by its rising valuation. Its operating loss was 693 million dollars, narrowed from about 2.1 billion dollars a year earlier, while computing and infrastructure expenses reached 8.95 billion dollars. As of June 30, it had raised 141.1 billion dollars and held 112.4 billion dollars in cash and equivalents.
Enterprise demand is driving the surge. As of September 30, Anthropic said more than 1,900 customers had each generated at least 1 million dollars in revenue over the previous 12 months, including about 250 that generated at least 10 million dollars each. That business rests on compute commitments stretching for years. The filing says Anthropic could pay SpaceXAI up to 120.5 billion dollars through 2029 for access to compute powered by Nvidia GPUs, reaching about 3.1 billion dollars a month once capacity is fully delivered, expected by the end of this year. It also committed at least 114.5 billion dollars to Google through July 2033, at least 110 billion dollars to Amazon through April 2036 and at least 44.9 billion dollars to Microsoft through May 2033.
Governance will stay unusual. Anthropic is a public benefit corporation. Its five-member Long-Term Benefit Trust will elect a majority of the board, and a single Class F share issued to an entity owned by its seven co-founders will carry 50.1 percent of voting power, making it a controlled company under Nasdaq rules. It has also put 5 percent of its fully diluted shares into a public benefit fund.
The risk section runs to more than 90 pages. In a founders' letter signed by Chief Executive Dario Amodei and the founding team, Anthropic called AI "one of the most consequential technologies in human history," while warning that sufficiently advanced systems, without appropriate safeguards, could pose "catastrophic or existential risks to humanity," particularly if misused, replicated, weaponized or allowed to operate with a high degree of autonomy. The filing groups AI risks into misuse, loss of human control, authoritarian abuse and economic disruption, alongside intense competition and compute constraints. Founded in 2021 by researchers who left OpenAI, Anthropic now heads to market ahead of its rival.