Anthropic has filed its Form S-1 with the US Securities and Exchange Commission, targeting a Nasdaq listing under the ticker ANT. The company plans to raise at least $100 billion, with the IPO expected to take place around the week of November 16, 2026. The projected valuation for the offering is set between $1.5 trillion and $2 trillion.
Financial results for the first half of 2026 show revenue of $16.3 billion, representing a 1,300% increase year-over-year. The second quarter accounted for $11.6 billion of this total and marked the company's first operating profit of $974 million. However, the firm also reported a net loss of $80.7 billion for the same period, largely due to non-cash charges.
The company has committed more than $500 billion to long-term compute and infrastructure projects. Goldman Sachs and Morgan Stanley are leading the underwriting group, which includes over 20 additional banks. Following the IPO, co-founders will retain 50.1% of voting control through a single share class structure.
The prospectus includes a risk section that highlights potential catastrophic threats to humanity associated with AI development. This valuation range follows a private valuation of $965 billion in May 2026. Investors are now monitoring the final pricing, the stability of the November timeline, and the level of market demand for the offering.
