Anthropic has filed its Form S-1 with the SEC, targeting a Nasdaq listing under the ticker ANT for mid-November 2026. The company is seeking a valuation between $1.5 trillion and $2 trillion, significantly higher than its $965 billion valuation in May 2026.
The filing reveals $637 billion in multiyear infrastructure and compute commitments across seven providers. Broadcom holds the largest share at $161.2 billion, followed by Google with at least $114.5 billion. Amazon and SpaceXAI are also listed as major counterparties.
Financial results show rapid growth, with full-year 2025 revenue reaching $4.6 billion. In the first half of 2026, revenue hit $16.3 billion, compared to $1.2 billion in the same period of 2025. Q2 2026 revenue was a record $11.6 billion.
The company reported its first GAAP operating profit of $974 million in Q2 2026, despite a net loss of $80.7 billion in the first half of the year, largely attributed to non-cash accounting charges. Approximately 80% of revenue is consumption-based.
Amazon and Google serve as both investors and key infrastructure suppliers. Amazon holds $6.2 billion in outstanding non-interest-bearing convertibles. Given the current revenue pace, the company would require roughly 14 years to cover its infrastructure obligations.
