For months, the tech world has been waiting with bated breath for news of a prospectus from the AI giant Anthropic.
Now, the company has officially announced its plans for an initial public offering (IPO).
On October 26, Anthropic published a brief press release announcing its proposed stock listing. The company confidentially filed its prospectus with the Securities and Exchange Commission (SEC) in June to give the agency an initial review period, and that information is now available to the public.
The filing offers a novel peek behind the curtain at the Claude-maker’s financials, details on how it plans to handle its IPO, and commentary on how the company views its biggest potential risks.
Here’s what to know from the SEC filing:
What is Anthropic?
Alongside OpenAI, Anthropic is one of the largest and most influential AI companies in the world.
The San Francisco-based company is the maker of Claude, its flagship model, and the Claude Code tool, which Fast Company has called the “smartest” AI coding tool on the market.
According to its SEC filing, as of June 30, 2026, Claude had “raised an aggregate of $141.1 billion of capital and had cash and cash equivalents of $112.4 billion and short-term investments of $19.3 billion.” Its most recent valuation landed at $965 billion.
If the IPO goes forward, Anthropic would be the second of the “big three” AI IPOs: SpaceX has already gone public, and while OpenAI had been expected to do so, the ChatGPT maker has reportedly delayed those plans.
Is Anthropic profitable?
Per the filing, Anthropic generated about $4.6 billion in revenue in 2025. In the first six months of 2026 (which ended June 30), the company had already netted around $16.3 billion.
However, Anthropic’s net losses have historically outweighed its gains. Since its founding, those losses have been increasing exponentially—including a net loss of $1.5 billion in 2023, $8.3 billion in 2024, and $42 billion in 2025.
The company’s net loss jumped to $80.7 billion during the first half of 2026, which it explains was largely driven by “an increase in the fair value of our outstanding convertible promissory notes” as a result of its mushrooming valuation.
When is Anthropic’s IPO?
No official date has been announced yet, but it’s likely that the IPO will debut within the next month.
What is Anthropic’s stock ticker?
Anthropic plans to list its Class A common stock on the Nasdaq Global Select Market under the symbol “ANT.”
What is the IPO share price of Anthropic?
Per the SEC filing, the number and prices of shares that will be offered at IPO have not yet been determined.
What are the risks to investing in Anthropic?
For the past several months, Anthropic has been embroiled in a conversation across Big Tech regarding whether the pace of AI development is an existential threat to humanity.
It started when former AI researcher Jacob Coxon resigned from Anthropic and issued a lengthy statement, which included the assertion that “the people building AI earnestly believe that it could kill us all by the end of the decade.”
From there, AI leaders including OpenAI CEO Sam Altman and a slew of top Anthropic researchers have come forward with their concerns around the technology. Anthropic’s own CEO, Dario Amodei, has repeatedly called for greater government regulation around the technology.
The SEC filing lays out some of the most significant risk factors in plain language.
“Concerns have been raised,” it reads, “both within our organization and by other researchers, regulators, policymakers, and industry participants that sufficiently advanced AI systems could, if not developed, deployed, and operated with appropriate safeguards, oversight, and security measures, pose catastrophic or existential risks to humanity, particularly if such systems were misused, replicated, weaponized, or allowed to operate with a high degree of autonomy.”
What’s next for Anthropic as a business?
The filing goes on to add that, while Anthropic has “experienced significant revenue growth in recent periods,” its business is also highly “capital-itensive,” meaning that its ability to continue developing frontier tech will depend on whether it can improve operating efficiency and sustain revenue.
“Further, our revenue growth may not be sustainable, and our rate of growth may decrease,” the filing reads. “We expect our costs will increase over time and our losses will continue as we expect to invest significant resources towards growing our business and operating as a public company.”
This story is developing…
