The company behind Claude is heading to Wall Street.
On Monday, Anthropic filed a registration statement on Form S-1 with the US Securities and Exchange Commission for a proposed initial public offering. It plans to list its Class A shares on the Nasdaq Global Select Market under the ticker ANT. The number of shares and the price range haven’t been set yet, and Goldman Sachs and Morgan Stanley are named as contacts for the prospectus.
The Associated Press says the filing sets Anthropic up for a debut next month, and that the offering could become the biggest IPO ever, potentially eclipsing SpaceX’s record $86 billion raise in June. It would also put Anthropic ahead of rival OpenAI in going public.
The numbers inside the filing
For the first time, we get a proper look at Anthropic’s finances. According to The Guardian’s reading of the document, revenue reached $16.2 billion in the first half of 2026, up from just $1.16 billion a year earlier. That is extraordinary growth by any standard.
Losses grew too. The company reported a loss of more than $80 billion for January to June, compared with $12.9 billion a year before. The Guardian notes that most of this jump came from a rise in the fair value of convertible notes that can turn into stock, rather than day-to-day operating costs. Still, the filing is blunt: Anthropic says it has a history of net losses and may not generate enough revenue to become profitable.
Founders keep control
Anthropic is selling shares to the public, but its seven co-founders, including Dario and Daniela Amodei, aren’t giving up the steering wheel. Under a “Founder Voting Structure”, a single Class F share will go to an LLC owned by the co-founders, carrying 50.1% of total voting power on most shareholder matters.
Risk, risk and more risk
The Guardian counted the word “risks” more than 200 times in the filing. Alongside usual business risks such as securing enough compute and forecasting demand, Anthropic warns that AI could be used for cybercrime or to design biological weapons, misused by authoritarian states, or slip out of human control. It also says its models could cause harm by “behaving in unintended, misaligned, or autonomous ways,” which could expose it to lawsuits and regulatory action.
Why it matters
An Anthropic listing would turn one of the biggest AI suppliers into a public company with quarterly disclosure, which means far more visibility into pricing, growth and costs. For businesses building on Claude, that transparency is useful when judging a vendor’s long-term stability. It also signals how much capital frontier AI now needs, and that is likely to keep shaping prices and product roadmaps across the whole industry.
Sources: Anthropic, The Guardian, AP News. Written by the xRapid Media LLP team.