Anthropic files for IPO under ticker "ANT"

Anthropic filed its IPO paperwork on Monday, ending weeks of leaked S-1 drafts and setting up one of the most closely watched stock-market debuts in recent U.S. history. The AI lab’s SEC filing shows revenue of $16.3 billion for the first half of 2026, up from $1.2 billion in the same period last year.

That growth came alongside an improving but still-wide operating loss: $693 million, down from $2.1 billion a year earlier. The company’s net loss, however, hit $80.7 billion, which the filing attributes largely to noncash accounting adjustments tied to convertible debt. Anthropic cautions in the filing that it “may not achieve or sustain profitability in the future.” The S-1 also details the scale of its enterprise business: as of the end of September, Anthropic counted more than 11,900 customers spending at least $100,000 a year, 1,900 spending at least $1 million, and about 250 spending at least $10 million.

The filing confirms Anthropic’s governance will keep its seven co-founders — Dario Amodei, Daniela Amodei, Tom Brown, Jack Clark, Jared Kaplan, Sam McCandlish, and Christopher Olah — in control after the IPO through a “Founder LLC” holding 50.1% of shareholder voting power, which Anthropic says is meant to protect its AI-safety mission. A separate body, the Long-Term Benefit Trust set up in 2023 to safeguard that public-benefit mission, will get to appoint most of the board. Because voting power won’t track economic ownership, public shareholders will have limited sway over a company whose own filing says its technology poses “catastrophic or existential risks to humanity.”

Anthropic has not yet said how much it aims to raise or what price it will seek for its shares.

Why it matters

The filing puts a hard number on how fast Anthropic’s enterprise business has scaled even as its losses balloon, and sets up a rare test of whether public investors will accept founder-controlled governance at an AI lab that openly flags existential risk from its own product.