Anthropic Files for IPO, Plans Nasdaq Listing Under ANT

The company reported $16.3 billion in revenue for the first half of 2026, up 1,300% from $1.2 billion in the same period in 2025, according to its Form S-1 filing. 

Anthropic, the developer of the Claude AI models, has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) and plans to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol ANT.

The company reported $16.3 billion in revenue for the first half of 2026, up 1,300% from $1.2 billion in the same period in 2025, according to its Form S-1 filing. Anthropic has not yet determined the number of shares to be offered or the proposed price range.

The filing shows that Anthropic's full-year revenue increased to $4.6 billion in 2025, compared with $386 million in 2024. Its operating loss narrowed to $693 million in the first half of 2026, down from $2.1 billion in the corresponding period last year.

However, the company reported a net loss of $80.7 billion, largely driven by $72.4 billion in fair-value adjustments to convertible notes, derivative liabilities and other financing instruments. Compute and infrastructure expenses reached $8.9 billion during the first six months of 2026.

Anthropic plans to use the IPO proceeds for working capital, operating expenses, infrastructure and computing investments, hiring, and employee retention. The funds may also support acquisitions, investments and tax obligations related to restricted stock units.

Under its proposed governance structure, a founder-controlled entity would retain 50.1% of the voting power on most shareholder matters.

Anthropic's SEC filing outlines several risks associated with expanding its AI products into healthcare and life sciences, including potential patient harm resulting from errors or undesirable model outputs.

The company warned that its healthcare offerings or their use by customers could fall under healthcare regulations and laws governing health information. This could require additional authorizations, product modifications or restrictions, and increased compliance spending.

Anthropic also acknowledged that inaccurate AI-generated outputs could contribute to patient harm, compromised research or regulatory failures among customers, potentially exposing the company to legal claims and regulatory enforcement.

The filing includes 94 pages of risk factors covering privacy, cybersecurity, intellectual property, legal and regulatory matters, and corporate governance.

OpenAI Also Weighs IPO Plans

The filing comes as competition among major AI developers intensifies. OpenAI submitted confidential IPO paperwork to the SEC in June 2026 but subsequently delayed its plans to go public.

In September, CEO Sam Altman said a 2026 listing would be ill-advised, citing the need to prioritize AI safety, alignment and cooperation with governments.

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