Anthropic, the artificial intelligence company behind the Claude models, has filed an S-1 registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering under the ticker symbol ANT.
The filing, announced by the company on October 26, applies to a listing of its Class A common stock on the Nasdaq Global Select Market. Anthropic has not yet disclosed the number of shares it intends to sell or a proposed price range. The registration statement has been filed but has not yet become effective.
Computing commitments disclosed
The filing outlines substantial planned spending on computing infrastructure. Anthropic said it expects to spend up to $120.5 billion on computing linked to SpaceXAI and Nvidia, along with up to $114.5 billion with Google through 2033.
Those commitments illustrate the scale of investment required to build and operate advanced AI systems, and the company noted they could increase its need for funding if revenue growth slows.
The filing also states that 5% of Anthropic's shares will go to the Anthropic Public Benefit Fund.
Revenue surges, net loss swells
Anthropic reported $16.3 billion in revenue for the first half of 2026, up sharply from $1.2 billion in the same period a year earlier. The company attributed the growth to demand for its Claude AI models and related business products.
The company also reported a net loss of $80.7 billion for the period. Most of that figure stemmed from a $72.4 billion non-cash accounting charge tied to changes in the value of convertible notes and other financial instruments, rather than day-to-day operations. Its operating loss was considerably smaller, at $693 million.
Valuation expectations and timing
Reports suggest Anthropic could go public in mid-November, with Goldman Sachs, Morgan Stanley and JPMorgan leading the offering. Market expectations point to a valuation of $1.5 trillion to $2 trillion and a raise of $100 billion, which would potentially surpass SpaceX's recent IPO valuation.
However, the final valuation and IPO date remain unconfirmed.
