Weeks of leaked drafts ended on Monday when Anthropic filed its S-1 with the Securities and Exchange Commission. The company plans to list on the Nasdaq under the ticker ANT.
Revenue for the first half of 2026 came in at $16.3B, against $1.2B in the same stretch last year. Operating losses narrowed to $693M from $2.1B. The net loss ballooned to $80.7B, a figure the filing attributes to noncash adjustments on convertible debt.
Enterprise depth is the story the document keeps returning to. By the end of September, 11,900 customers were spending at least $100,000 a year, 1,900 were above $1M and about 250 cleared $10M.
A founder bloc with a veto
Seven co-founders will hold 50.1 percent of shareholder voting power through a Founder LLC. Dario Amodei, Daniela Amodei, Tom Brown, Jack Clark, Jared Kaplan, Sam McCandlish and Christopher Olah sit inside it.
The Long-Term Benefit Trust, created in 2023, will appoint most of the board. Public investors will therefore own economics without matching control over a company that describes its own products as carrying catastrophic risk.
The compute warning
Anthropic told regulators that staying at the frontier depends on access to enormous quantities of specialized computing. Failing to secure enough, the filing says, risks falling behind rivals.
No share price or target raise appears in the document yet. The listing would arrive a few months after SpaceX completed the largest IPO on record.
