Anthropic Files IPO Paperwork, Revealing $16 Billion in Revenue and a Path to Nasdaq
Revenue topped $16 billion in H1 2026, versus $4.5 billion for all of 2025, while its net loss fell to $80.7 million from $13 billion a year earlier. More than 11,900 customers spent $100,000+ over 12 months.
Anthropic filed its S-1 prospectus on Monday, October 26, 2026, ahead of a highly anticipated initial public offering on the Nasdaq stock exchange under the ticker symbol ANT. The IPO could arrive as early as November, according to The Wall Street Journal.
The filing does not specify how much Anthropic plans to raise or its target valuation. The New York Times reported in August that the company was seeking to raise more than $100 billion at a valuation of around $2 trillion.
The prospectus provides a detailed look at Anthropic’s finances through the first half of 2026. Revenue grew to more than $16 billion, up from approximately $4.5 billion for the full year of 2025. The company’s enterprise business has expanded significantly: more than 11,900 customers spent at least $100,000 over the past twelve months, more than 1,900 spent $1 million or more, and roughly 250 customers spent $10 million or more.
Despite that revenue growth, Anthropic has not yet turned a profit. The company posted a net loss of $80.7 million in the first half of 2026, a notable improvement from a net loss of $13 billion during the same period the prior year.
The filing includes an extensive list of risk factors, cautioning that investing carries “a high degree of risk.” Those risks include competition from rival AI labs, difficulty securing adequate computing resources, and the potential for advanced AI systems to “pose catastrophic or existential risks to humanity.” Anthropic also warned that sophisticated AI could be exploited to launch cyberattacks, develop biological weapons, or enable authoritarian surveillance — and that the company itself could lose control of the models it develops.
The prospectus additionally flagged regulatory uncertainty, specifically citing the Trump Administration’s decision to designate Anthropic as a supply-chain risk.
In the filing, Anthropic urged prospective shareholders to view the stock purchase as “an opportunity to be part of something greater” than a purely financial transaction.