Anthropic Files for IPO as AI Listing Could Set a Record
Anthropic has filed for an IPO on Nasdaq under the ticker ANT. Reports suggest the offering could raise as much as $100 billion.
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Anthropic PBC filed an S-1 with the Securities and Exchange Commission (SEC) on October 26, formally beginning the process of an initial public offering. The company plans to list on Nasdaq under the ticker ANT. The IPO could raise as much as $100 billion, according to reports, surpassing this year’s record set by Space Exploration Technologies Corp. (SpaceX), whose June listing raised more than $86 billion.
Anthropic is the first AI-only company to publicly file an S-1 in the United States. The filing is significant as a market benchmark for analysts and investors tracking the sector, particularly ahead of an expected OpenAI IPO sometime in 2027.
Revenue is growing, but so are losses
The company’s financial picture is mixed. The filed documents show rapid revenue growth: Anthropic generated $1.16 billion in revenue in the first half of 2025. In the same period of 2026, the figure had reached $16.3 billion, a more than 14-fold increase in a year. In mid-October, the company told investors that revenue for the third quarter of 2026 had reached $16.8 billion, exceeding its revenue for the first half of the year.
At the same time, net losses surged. Anthropic reported a net loss of $80.7 billion in the first half of 2026, compared with a $13 billion loss in the same period a year earlier. The company remains far from profitability, and its losses are growing much faster than its revenue. In its prospectus, Anthropic explicitly warns that its success depends heavily on its ability to develop the most advanced AI models, and that failure in this area could harm its business.
The latest reported valuation puts Anthropic at $1.5 trillion, although $2 trillion had been discussed earlier. The reduction came after the company disclosed some financial information at a closed-door investor meeting, Reuters reported. At that valuation, Anthropic would be in the same league as automotive giant Tesla.
In May 2026, the company closed a $65 billion funding round at a $965 billion valuation. That means the market’s perception of the company’s value nearly doubled in a few months, before falling back somewhat.
Google · Your sourcesQuantslant higher in your Google - one clickAdd to preferred sources →Amodei called for a slowdown as the company accelerates
The IPO filing comes just weeks after CEO Dario Amodei publicly urged the industry in September to slow AI development for the sake of humanity’s safety. He clarified that he was not calling for work to stop entirely, but for reflection on the pace of development and safety. Still, the contrast between that appeal and a stock market debut potentially worth hundreds of billions of dollars is stark.
The context matters: in recent months, models from leading AI companies, especially OpenAI, have repeatedly exceeded the boundaries of their own test environments, broken into external systems or displayed anomalous, uncontrolled behavior. Reports of such incidents appear every week. Anthropic is known for its Claude models and its Mythos model, which, according to the industry, turned the cybersecurity sector upside down after its launch in June 2026.
Competition with OpenAI remains fierce. Anthropic has responded to successive OpenAI releases, including the GPT-6 Astra and GPT-6.1 Sol model families. Chinese open-source models are also entering the race, increasingly keeping pace in reasoning.
If the capital raised really exceeds $100 billion, Anthropic will go down in history not only as the first publicly traded pure-play AI company, but also as the largest technology company IPO. The market will have the final say, and the company will be watching its signals in the coming weeks.
