Anthropic files for IPO, revealing $16.3 billion in first-half revenue

Anthropic filed paperwork for an initial public offering on Monday, moving ahead after weeks of leaked versions of its S-1 filing, the document companies submit to the Securities and Exchange Commission before going public. The AI company plans to list under the ticker symbol ANT.

The filing gives the first detailed look at Anthropic’s finances. Revenue for the first half of 2026 reached $16.3 billion, up from $1.2 billion in the same period a year earlier, according to the SEC filing. The operating loss over that period narrowed to $693 million, down from $2.1 billion in the first half of 2025.

Anthropic’s net loss for the period was far larger: $80.7 billion. The company says that figure was driven mainly by noncash accounting adjustments tied to convertible debt, meaning loans that can turn into company stock, rather than by cash spending. Anthropic states in the filing that it “may not achieve or sustain profitability in the future.”

The filing also sketches the size of Anthropic’s business customer base. As of the end of September, the company had more than 11,900 customers paying at least $100,000 a year, 1,900 paying at least $1 million a year, and about 250 paying at least $10 million a year.

Founders keep control

Anthropic’s governance structure is set up so its seven co-founders keep control of the company after it goes public. Dario Amodei, Daniela Amodei, Tom Brown, Jack Clark, Jared Kaplan, Sam McCandlish and Christopher Olah will form a group called the Founder LLC, which will hold 50.1% of shareholder voting power. Anthropic says the arrangement is meant to protect the company’s stated mission around AI safety.

A separate body, the Long-Term Benefit Trust, which Anthropic set up in 2023 to oversee that mission, will have the power to appoint most of the company’s board members.

That structure means voting power will not match economic ownership. Public shareholders who buy ANT stock will have little practical say over a company that, by its own admission in the filing, is building technology carrying “catastrophic or existential risks to humanity.”

Anthropic has not yet said how much money it hopes to raise in the offering or what price it will set for its shares. Those details, along with the timing of the listing, typically arrive in later amendments to the filing as the IPO process moves toward pricing and a trading debut.