Anthropic files for a proposed U.S. IPO

Anthropic’s disclosed funding history runs from a $124 million Series A led by Jaan Tallinn and a $580 million Series B to a $450 million round that included Google and Spark Capital.[1] Amazon later announced an investment of up to $4 billion, and Google agreed to invest up to $2 billion.[1] Subsequent rounds included $3.5 billion at a $61.5 billion post-money valuation, $13 billion at $183 billion, and $30 billion at $380 billion.[1] The company then raised $65 billion at a $965 billion post-money valuation before filing its S-1.[1][2]

Anthropic’s filing is for Class A common stock, and the company said it intends to list those shares on the Nasdaq Global Select Market under ANT.[2] The share count and price range had not yet been determined, so the filing does not establish the offering’s size or the price investors would pay.[2] Reuters reported that Goldman Sachs and Morgan Stanley were named lead underwriters alongside 20 others, with Morgan Stanley acting as stabilization agent.[3] Those details identify parts of the planned transaction, but the missing share count and price range leave key terms unresolved.[2][3]

Anthropic reported first-half 2026 revenue of about $16.3 billion and a net loss of $80.7 billion; Reuters said the loss widened largely because of a rise in the fair value of bonds convertible into its shares.[3] The filing showed approximately $417 billion in future compute payment obligations for data centers, computing equipment and cloud services.[4] Anthropic said additional compute capacity ordered for delivery from 2028 through 2031, with pricing not finalized, is expected to add $125 billion to $150 billion to those obligations.[4] The company also said it relies on a limited number of cloud providers, including Amazon, Google and Microsoft, and suppliers such as Broadcom.[3]

Reuters reported that more than half of Fortune 500 companies and over 30% of Global 2000 firms were customers generating at least $100,000 each over the 12 months ended September 30.[3] The company’s filing also arrives amid scrutiny of AI returns and high valuations, which Reuters described as a test of investor appetite.[3] Anthropic has faced separate legal disputes, including a judge-approved $1.5 billion class-action settlement and a music company’s lawsuit alleging misuse of songs to train AI systems.[1]