Anthropic has filed a Form S-1 registration statement with the US Securities and Exchange Commission on October 26, 2026, targeting a Nasdaq listing under the ticker ANT. The company's revenue grew from $386 million in 2024 to a projected $4.585 billion in 2025.
The filing highlights significant risks related to supply chain concentration. Anthropic relies on TSMC for advanced chips, while SK hynix, Samsung Electronics, and Micron Technology are identified as key suppliers of high-bandwidth memory (HBM).
Anthropic has entered into non-cancelable compute agreements with Broadcom, Google, and Amazon, with total commitments estimated at upwards of $600 billion. These obligations remain binding regardless of actual usage or demand growth.
While the S-1 does not specify share counts or pricing, private valuations reached $965 billion in early 2026. Market expectations for the IPO valuation range between $1.5 trillion and $2 trillion.
