Anthropic Files to Go Public
Anthropic, the company that makes the Claude AI models, made its stock-offering paperwork public, listing $16.3 billion in first-half revenue and seven co-founders who will hold 50.1% of the vote.
Anthropic, the artificial intelligence company behind the Claude models, filed a registration statement on Form S-1 with the Securities and Exchange Commission for an initial public offering of its Class A common stock. It intends to list on the Nasdaq Global Select Market under the symbol "ANT." The number of shares and the price range have not been determined. The company had filed confidentially in June.
The filing shows revenue of $16.3 billion for the six months through June, up from $1.2 billion a year earlier, and an operating loss of $693 million, down from $2.1 billion. Net loss was $80.7 billion, of which about $72.4 billion was an accounting charge tied to convertible notes. A single Class F share, directed by the seven co-founders through a company called Founder LLC, will carry 50.1% of the voting power, and the company's Long-Term Benefit Trust will elect most of the board. Goldman Sachs and Morgan Stanley are the lead underwriters.
San Francisco — Anthropic, PBC, publicly filed to go public, putting its finances and corporate structure on the record for the first time.
What was filed
In its announcement, Anthropic said it filed a registration statement on Form S-1 with the SEC relating to a proposed initial public offering of its Class A common stock, to be listed on the Nasdaq Global Select Market as "ANT." The registration statement has not yet become effective. Copies of the preliminary prospectus may be obtained from Goldman Sachs and Morgan Stanley, which CNBC reported are the lead underwriters. The company confidentially submitted a draft to the SEC in June, according to Reuters and CNBC.
The numbers
Revenue for the six months ended June 30 was $16.3 billion, compared with $1.2 billion in the same period of 2025, according to TechCrunch, Fortune and Reuters. For all of 2025, revenue was $4.59 billion, Reuters and CNBC reported. The operating loss for the six months was $693 million, against $2.1 billion a year earlier.
The net loss was $80.7 billion. Fortune reported that $72.4 billion of it was an accounting charge reflecting the increased value of convertible notes Anthropic has issued, and CNBC reported the charge at about $72 billion. TechCrunch said the loss was largely driven by noncash adjustments tied to convertible debt. The company says it "may not achieve or sustain profitability in the future."
As of September 30, Anthropic had 5,300 employees and more than 11,900 customers whose trailing 12-month revenue was $100,000 or more, according to the filing as reported by CNBC. Its five largest customers accounted for about 25% of revenue in the first nine months of 2026, Fortune and CNBC reported, and nearly half of its revenue came through cloud marketplaces run by Amazon, Google and Microsoft.
Computing commitments
Reuters and CNBC reported that Anthropic has committed to spend at least $110 billion with Amazon, about $114.5 billion with Google and $44.9 billion with Microsoft on cloud computing over roughly the next seven to 10 years. CNBC and The Verge reported that it will pay SpaceX about $3.1 billion a month for access to Nvidia-powered computing once all promised capacity is delivered, up to $120.5 billion through 2029.
Who controls it
Anthropic is a public benefit corporation. The seven co-founders, Dario Amodei, Daniela Amodei, Tom Brown, Jack Clark, Jared Kaplan, Sam McCandlish and Christopher Olah, are the members of Founder LLC, which will hold a single Class F share carrying 50.1% of the voting power, according to TechCrunch, Fortune, Reuters and CNBC. The company's Long-Term Benefit Trust, set up in 2023, will have authority to appoint most of the board. Anthropic says the structure is designed to preserve its AI safety mission.
What the filing says about risk
The filing includes more than 90 pages of risk factors, according to Fortune and CNBC. In it, Anthropic wrote that "sufficiently advanced AI systems could, if not developed, deployed, and operated with appropriate safeguards, oversight, and security measures, pose catastrophic or existential risks to humanity, particularly if such systems were misused, replicated, weaponized, or allowed to operate with a high degree of autonomy," according to Fortune. TechCrunch quoted the same phrase. In a letter at the top of the prospectus, the co-founders wrote that their aim is "to help humankind chart a safe course through this technological evolution, open new frontiers of discovery, and bring forth an age of miracles."