Anthropic has made its planned public offering official, filing a registration statement that would take the artificial-intelligence company to Nasdaq under the ticker “ANT.”
The company, which develops the Claude family of AI models, said it intends to offer Class A common stock on the Nasdaq Global Select Market. The filing does not yet specify how many shares will be sold or the price range for the offering. Both Anthropic and existing shareholders are expected to sell shares.
Goldman Sachs and Morgan Stanley are listed as the lead underwriters among a group of 24 banks. The filing follows a confidential draft submitted to the U.S. Securities and Exchange Commission in June. Anthropic’s registration statement is not yet effective, meaning the IPO process remains subject to regulatory review and final offering terms.
Revenue growth comes with a large reported loss
Anthropic’s filing shows a sharp acceleration in sales during the first half of 2026. Revenue reached $16.29 billion in the six months ended June 30, compared with $1.16 billion in the same period of 2025.
The company’s annual revenue was $4.59 billion in 2025, up from $386 million in 2024 and $41 million in 2023. The figures illustrate how quickly demand for its AI products has expanded, although the filing also shows that Anthropic remains loss-making on an operating basis.
Anthropic reported a net loss of $80.7 billion for the first half of 2026. Most of that figure came from a $72.4 billion charge tied to changes in the fair value of convertible notes and other financial instruments. The filing said the adjustment was primarily driven by an increase in Anthropic’s valuation.
Its operating loss for the period was $693 million, providing a different view of the company’s underlying operations from the much larger net loss affected by the valuation-related charge.
Anthropic said it had raised $141.1 billion in total as of June 30. It held $112.4 billion in cash and cash equivalents, along with $19.3 billion in short-term investments. As of September 30, the company had more than 1,900 customers that each generated at least $1 million in revenue during the previous 12 months. About 250 customers generated at least $10 million.
According to Decrypt, reports about Anthropic’s confidential filing had included hopes among backers for a valuation above $2 trillion. The company raised $65 billion in May at a valuation of $965 billion, although the IPO filing does not set a final public-market valuation.
A public company with unusual control arrangements
Anthropic is organized as a public benefit corporation. That structure requires its directors to consider shareholders’ financial interests alongside the interests of people affected by the company’s conduct and its stated purpose: the responsible development and maintenance of advanced AI for the long-term benefit of humanity.
The proposed governance arrangement gives that mission a central role. The Long-Term Benefit Trust, made up of five financially disinterested trustees, will elect a majority of Anthropic’s board through a special class of stock.
At the same time, Anthropic plans to issue one Class F share to an entity owned by its seven co-founders immediately before the offering. That share will carry 50.1% of the voting power on most shareholder matters. As a result, the filing says Anthropic will qualify as a “controlled company” under Nasdaq rules.
Class A shareholders will receive one vote per share. Anthropic warns that the structure could effectively prevent Class A investors from influencing major decisions, including a change in control. This means that buying publicly traded shares would not necessarily provide voting influence proportional to an investor’s economic ownership.
Mission-focused ownership and market picture
Anthropic has also contributed approximately 847 million non-voting shares to a wholly owned subsidiary dedicated to its public benefit purpose. Those shares represented 5% of the company’s fully diluted shares as of June 30.
The filing says each co-founder has pledged to give 80% of their personal equity in Anthropic to philanthropic causes. The company announced the related fund earlier this month, a move that drew criticism from investor and former White House AI czar David Sacks, who questioned whether the arrangement would serve the public good.
The IPO’s timing places one of the most heavily funded AI companies before public investors while its financial results are expanding rapidly and its governance model limits the influence of ordinary shareholders. The number of shares, offer price and date of the Nasdaq debut have not been announced.
Moneyiar market data, recorded on October 25, 2026, at the stated times, showed mixed performance among the tracked digital assets:
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