Anthropic files to go public on Nasdaq as "ANT," reporting $16.3 billion in first-half revenue

As of 1:24 p.m. ET, Oct. 26, 2026

Anthropic, PBC publicly filed a registration statement on Monday for an initial public offering and has applied to list its Class A common stock on the Nasdaq Global Select Market under the symbol "ANT," according to the Form S-1 filed with the U.S. Securities and Exchange Commission.

The filing, file no. 333-299633, was accepted by the SEC's EDGAR system at 9:00:11 a.m. ET. The price range and the number of shares to be offered are blank in the document.

Revenue

The S-1 shows revenue of $41 million in 2023, $386 million in 2024 and $4.6 billion ($4,585 million) in 2025. In the six months ended June 30, 2026, revenue was $16.3 billion ($16,286 million), up 1,300% from $1.16 billion a year earlier, the filing says.

"We do not expect our revenue will continue to grow at comparable rates, and we cannot assure you that it will continue to grow at all," the company says in the prospectus.

About 80% of first-half 2026 revenue was consumption-based and about 20% came from subscriptions, according to the filing.

Losses

Anthropic reported a net loss of about $42.0 billion for 2025 and about $80.7 billion for the first half of 2026, according to the filing.

Most of those losses were non-cash charges from changes in the fair value of convertible notes, derivative liabilities and simple agreements for future equity (SAFEs), which the filing puts at $34.3 billion for 2025 and $72.4 billion for the first half of 2026. Because those instruments are marked to market, "increases in our enterprise valuation drive increases in this expense," the prospectus says. The company's operating loss for the first half of 2026 was $693 million.

Compute commitments

Between May and October 2026, Anthropic entered into and amended agreements with SpaceX.AI LLC (formerly known as X.AI LLC), which the filing describes as a wholly owned subsidiary of Space Exploration Technologies Corp., to access compute powered by NVIDIA GPUs.

Under those arrangements, Anthropic agreed to spend an aggregate of up to $120.5 billion over terms extending into 2029, or approximately $3.1 billion a month in the aggregate once all capacity has been delivered, which the company expects in December 2026, the filing says. After initial non-cancelable periods ending in January 2027 and March 2027, either party may cancel each agreement on 90 days' notice, according to the S-1.

Banks and structure

Goldman Sachs, Morgan Stanley, J.P. Morgan and Citigroup are listed first among the underwriters on the prospectus cover.

Anthropic is a Delaware public benefit corporation. Dario Amodei is chief executive and Daniela Amodei is president and chair of the board, the filing says. The company will be a "controlled company" under Nasdaq rules because its Long-Term Benefit Trust generally has the power to elect a majority of the board through Class T stock. Class F stock held by a founders' entity will carry 50.1% of the voting power on most other stockholder matters, according to the filing.

What is not known

The filing does not yet give an offering price range, the number of shares to be sold, or a date for pricing or the start of trading. The preliminary prospectus says the securities may not be sold until the registration statement becomes effective.