Anthropic Opens Accounts Ahead of IPO: Rapid Growth and Massive Losses

Claude is preparing his IPO. Anthropic announced on October 26 the filing of a Form S-1 with the Securities and Exchange Commission (SEC), with a view to listing on the Nasdaq Global Select Market under the symbol “ANT”. The designer of Claude plans to offer Class A common shares. However, neither the number of securities nor the price range have yet been set, and no listing date has been officially announced.

Key Points

Anthropic confirms its plan to list on Nasdaq under the symbol ANT.

The public filing follows a first confidential approach announced on June 1.

The company posts $16.3 billion in revenue in the first half of 2026, but a significant net loss.

The price of the shares, the amount of the raise and the final valuation remain undetermined.

Anthropic files its S-1, without setting the price of its shares

The official announcement specifies the outlines of the operation, without determining the financial terms. Anthropic wants to list its Class A common stock on Nasdaq. Goldman Sachs and Morgan Stanley are among the contacts to obtain the preliminary prospectus when it becomes available.

Form S-1 presents in particular the activity, accounts, risks and capital structure of a company preparing a public offering. Its filing, however, does not mean that the shares can already be purchased. Anthropic clarifies that the registration statement has not yet entered into force.

The company announced on June 1, 2026 the confidential submission of a draft document to the SEC. The public filing therefore prolongs a procedure already initiated, rather than launching the examination of the file from scratch.

The amounts mentioned in the press must be distinguished from the confirmed terms. A raise of up to $100 billion and a valuation of between $1.5 trillion and $2 trillion have been reported, but Anthropic did not set any of these numbers in its press release. The timetable still depends on the procedure and market conditions.

Rapid growth, accompanied by considerable financial needs

Behind the stock market project, the accounts illustrate the cost of developing artificial intelligence. According to elements of the public filing, Anthropic achieved 16.3 billion dollars in turnover in the first half of 2026, after 4.6 billion for the whole of 2025.

The half-year net loss nevertheless reached $80.7 billion. A large part comes from an accounting adjustment: this amount therefore does not correspond entirely to money spent during these six months. It remains essential to distinguish net loss, operating income and cash consumption.

Investors should also review commitments to computing power providers. Developing and operating Claude requires significant capabilities, the financing of which supports commercial growth.

This dependence creates a complex relationship with large technology groups. Some combine the roles of investor, supplier, distributor and competitor. Their infrastructures support Anthropic's activity, while weighing on its costs and its margin for maneuver.