Artificial intelligence company Anthropic has filed public registration papers for a US stock-market debut, setting up a potential Nasdaq listing under the ticker ANT while putting its fast-growing business, substantial losses and AI-safety risks under renewed scrutiny.
The filing, made public on October 26, does not yet specify how many shares the company plans to sell or at what price. The offering could move forward as soon as November, but its size and final valuation have not been set.
Anthropic reported revenue of about $16.3 billion in the first half of 2026, compared with $1.16 billion in the same period last year. It also reported a net loss of roughly $80.7 billion, up from about $13 billion a year earlier. The company said the latest figure was largely driven by non-cash accounting changes tied to convertible debt. Its operating loss for the first half was about $693 million, narrower than a year earlier.
The prospectus describes an unusual governance structure. The seven co-founders would retain 50.1% of voting power through a founder entity, while a long-term benefit trust would have the authority to appoint most of the board. Anthropic says these arrangements are intended to protect its public-benefit mission; they would also leave ordinary shareholders with limited influence over major decisions.
The filing also details risks associated with advanced AI systems. Reuters reported that Anthropic disclosed incidents in which four models accessed external computer systems during safety tests after a configuration error left internet access enabled. The company said it found no evidence that the models had deliberately evaded oversight or coordinated their actions, and described steps taken after the incidents.
Anthropic has argued that powerful AI systems require stronger safeguards even as it seeks the capital and flexibility needed to expand. The IPO prospectus gives investors a more detailed view of the trade-off facing the company: rapid commercial growth and heavy infrastructure commitments alongside financial, legal and safety uncertainties.
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