Anthropic filed its registration statement with the Securities and Exchange Commission on October 26, 2026, making public the paperwork for an initial public offering after weeks of leaked drafts, TechCrunch reported. The Claude maker plans to list on Nasdaq under the ticker ANT, according to Engadget and Yahoo Finance. (TechCrunch (opens in a new tab); Engadget (opens in a new tab); Yahoo Finance live (opens in a new tab))

The company had filed a draft version of the document with the SEC in June. It has not yet set the number of shares it will sell or a price range. Engadget reported that the offering could value Anthropic at around $2 trillion and that the stock is expected to start trading in mid November. Yahoo Finance reported that Goldman Sachs and Morgan Stanley are leading the deal. (TechCrunch (opens in a new tab); Engadget (opens in a new tab); Yahoo Finance live (opens in a new tab))

Revenue, losses and a first operating profit

The filing shows revenue of $16.3 billion for the first half of 2026, up from $1.2 billion in the same period of 2025, according to TechCrunch. Yahoo Finance noted that the six month figure is far above the $4.6 billion Anthropic brought in across all of 2025. (TechCrunch (opens in a new tab); Yahoo Finance (opens in a new tab))

Growth accelerated during the year. Second quarter revenue reached $11.6 billion, compared with $4.7 billion in the first quarter, and the company reported operating income of $974 million in the second quarter, its first operating profit, after a $1.7 billion operating loss in the first quarter, Yahoo Finance reported. For the half year as a whole, TechCrunch put the operating loss at $693 million, down from $2.1 billion a year earlier. (TechCrunch (opens in a new tab); Yahoo Finance live (opens in a new tab))

The bottom line looks very different. Anthropic recorded a net loss of $80.7 billion for the first half, which TechCrunch and Yahoo Finance both attributed mostly to noncash accounting charges tied to convertible debt and other financing. The company also warned that it may not reach or sustain profitability in the future. (TechCrunch (opens in a new tab); Yahoo Finance (opens in a new tab))

Most of the money comes from large business customers. By the end of September, more than 11,900 customers were spending at least $100,000 a year with Anthropic, about 1,900 were spending at least $1 million and roughly 250 were spending at least $10 million, according to TechCrunch. Yahoo Finance reported that about one fifth of revenue came from two customers, and that usage based pricing made up about 80 percent of revenue, with subscriptions accounting for the rest. (TechCrunch (opens in a new tab); Yahoo Finance (opens in a new tab); Yahoo Finance live (opens in a new tab))

Who controls the company

Anthropic's seven cofounders, including chief executive Dario Amodei and president Daniela Amodei, will hold their shares through an entity called Founder LLC that is set to control 50.1 percent of shareholder voting power, TechCrunch reported. The Long Term Benefit Trust, created in 2023 to oversee the company's public benefit mission, will be able to appoint most of the board. (TechCrunch (opens in a new tab); Yahoo Finance (opens in a new tab))

TechCrunch described the arrangement as controversial, because the founders' voting power will not match their economic stake, leaving public shareholders with little practical say. Yahoo Finance also reported an unusual lockup schedule: some insiders may be able to sell on the first day of trading, with further lockup expirations staged on days 27, 48, 62 and 76. (TechCrunch (opens in a new tab); Yahoo Finance live (opens in a new tab))

Compute bills and risk warnings

The prospectus describes very large commitments for computing power. Yahoo Finance calculated about $430 billion in non cancelable commitments across four partners: roughly $161 billion with Broadcom, $115 billion with Google, $110 billion with Amazon and $45 billion with Microsoft. Anthropic also said it plans to build data centers of its own. (Yahoo Finance live (opens in a new tab))

Among the risk factors, the company states that its technology could pose catastrophic or existential risks to humanity, and it describes scenarios in which its models cause real world harm that could exceed its ability to cover damages, according to TechCrunch and Yahoo Finance. The filing also points to an uncertain regulatory and political environment and to falling prices for AI usage. (TechCrunch (opens in a new tab); Yahoo Finance (opens in a new tab); Yahoo Finance live (opens in a new tab))

Investors reacted quickly. Chip stocks including Nvidia, Broadcom, Micron, Intel and AMD rose in midday trading on October 26, and the Nasdaq Composite was up 0.8 percent at midday, Yahoo Finance reported. (Yahoo Finance live (opens in a new tab))

In NeuraFeed's reading, the filing turns Anthropic from a private lab into a company whose growth, spending and safety claims will be checked every quarter in public. The founder control structure means outside investors are buying exposure to that growth without gaining much influence over how the company handles the risks it describes in its own prospectus.