Anthropic Files for Initial Public Offering on Nasdaq
The proposed listing could raise up to $100 billion, potentially making it the largest public stock offering in financial history.
Artificial intelligence developer Anthropic filed a registration statement with the Securities and Exchange Commission on October 26, 2026. The company plans an initial public offering of Class A common stock. It applied to list on the Nasdaq Global Select Market under the symbol ANT.
The preliminary prospectus did not include a share count, price range, target offering size, or valuation. Market reports indicate the sale could raise up to $100 billion. Current and prospective investors are discussing valuation targets between $1.5 trillion and $2 trillion.
Anthropic generated $16.29 billion in revenue for the first six months of 2026. That was an increase from roughly $1.16 billion to $1.2 billion during the same period in 2025. The company recorded an operating loss of $693 million for the first half of 2026.
The firm reported a total net loss of $80.7 billion for the first half of 2026. In the prior-year period, the net loss reached roughly $13 billion. Non-cash accounting charges tied to convertible notes, derivative liabilities, and equity agreements accounted for approximately $72 billion of the loss.
Anthropic held $112.4 billion in cash and cash equivalents and $19.3 billion in short-term investments on June 30, 2026. It secured a $15 billion revolving credit line in September 2026. The firm also disclosed over $500 billion in computing commitments to infrastructure partners.
Those obligations include up to $114.5 billion with Google through 2033 and at least $110 billion with Amazon through 2036. Anthropic also committed up to $120.5 billion involving SpaceXAI and Nvidia. Master equipment lease payments to Broadcom total $161.2 billion.
Anthropic stated in the filing that compute costs will keep rising and remain its largest operational expense. The company cautioned that revenue growth may slow and that it may fail to achieve or sustain profitability. Founders warned in a letter of risks including existential threats to humanity, potential misuse, and economic disruption.
Chief Executive Officer Dario Amodei previously advocated pacing model development until safety alignment can be guaranteed. Dario Amodei and Daniela Amodei founded the Claude chatbot maker in 2021 after leaving OpenAI. A private funding round in May 2026 valued the company at $965 billion.
Market analyst Jacob Bourne said the filing shows a willingness to confront scrutiny during stalled tech market offerings. Rival OpenAI confidentially filed in June 2026, though Chief Executive Sam Altman suggested public trading would be delayed.
The proposed listing follows an initial public offering by SpaceX in June 2026. The Associated Press and CBC reported that SpaceX raised $86 billion. Fox Business reported that SpaceX priced a $75 billion offering at a $1.75 trillion valuation.
Goldman Sachs and Morgan Stanley are leading the underwriting syndicate. Anthropic plans to submit amended filings with pricing terms after assessing investor demand over two weeks. The company aims to debut as early as the week of November 16, 2026, depending on market conditions.
