Filings released Monday ahead of Anthropic’s long-awaited initial public offering provide new details about the artificial-intelligence company’s rapid growth, financial losses and the risks facing its business. Anthropic plans to list on the Nasdaq under the ticker symbol ANT, and the IPO could take place in late November, the Wall Street Journal reported.
According to the company’s filing, its S-1 prospectus does not disclose how much Anthropic plans to raise or its target valuation. In August, the New York Times reported that the company was aiming to raise more than $100 billion at a valuation of about $2 trillion.
“The emergence of machine intelligence is one of the seminal moments in human history,” Anthropic wrote in its application. “As future owners of our shares, we encourage you not to think of your purchase purely from a transactional perspective, but instead as an opportunity to be part of something bigger.”
Rapid revenue growth, widening losses
The prospectus offers a view of Anthropic’s financial position through the first half of 2026. The company’s sales increased from approximately $4.5 billion in 2025 to more than $16 billion.
The filing highlights growth in Anthropic’s enterprise business. More than 11,900 customers spent at least $100,000 with the company during the past 12 months, while more than 1,900 customers spent more than $1 million. Approximately 250 customers spent more than $10 million.
Despite its rising revenue, Anthropic is not yet profitable. The company reported a net loss of $80.7 billion in the first half of 2026, compared with a net loss of $13 billion during the same period last year.
Risks outlined in the prospectus
The filing says investing in Anthropic’s stock involves a “high degree of risk” and provides an extensive list of potential challenges. These include the company’s ability to secure sufficient computing capacity and intense competition from rival AI laboratories.
Anthropic also warned that advanced AI systems could “pose catastrophic or existential risks to humanity.” The prospectus says such systems could be exploited by threat actors to launch cyberattacks or develop new biological weapons, or by authoritarian governments to monitor their populations.
The company further identified the possibility of losing control of the AI models it develops as a risk. It also pointed to uncertainty surrounding government actions, including the Trump administration’s decision to designate Anthropic as a supply-chain risk.
Source: www.wired.com