Anthropic, the company behind the Claude AI models, filed for an initial public offering on Monday, October 26. The Anthropic IPO filing with the U.S. Securities and Exchange Commission follows weeks of leaked S-1 drafts, and the company plans to trade under the ticker “ANT.”
The Anthropic IPO prospectus gives the first official look at how fast Anthropic has grown. Revenue reached $16.3 billion in the first half of 2026, compared with $1.2 billion in the same six months of 2025. That is more than thirteen times the figure from a year earlier.
Revenue climbs as operating losses shrink
Operating losses narrowed over the same period. Anthropic reported an operating loss of $693 million for the first half of 2026, down from $2.1 billion a year earlier.
The bottom line looks very different, however. Net loss for the half came to $80.7 billion. According to the filing, most of that figure comes from noncash accounting adjustments tied to convertible debt, not from day-to-day operations. Even so, the company warns investors that it “may not achieve or sustain profitability in the future.”
Large enterprise contracts drive growth
The S-1 also breaks down the size of Anthropic’s business customer base. As of the end of September, more than 11,900 customers were spending at least $100,000 a year with the company. Of those, 1,900 spent $1 million or more annually, and about 250 spent $10 million or more.
Those tiers point to a company that earns much of its money from big corporate deals. Developers, including game studios, reach Claude through Anthropic’s API and through coding tools such as Claude Code, so the filing also gives software makers a clearer view of a supplier they depend on.
Anthropic IPO keeps the founders in control
The governance plan has drawn the most attention. Anthropic’s seven co-founders will form a “Founder LLC” that collectively controls 50.1% of shareholder voting power after the listing. The group includes Dario Amodei, Daniela Amodei, Tom Brown, Jack Clark, Jared Kaplan, Sam McCandlish and Christopher Olah.
Anthropic says the structure is designed to protect its AI safety mission. Meanwhile, the company’s Long-Term Benefit Trust, set up in 2023 to keep Anthropic focused on its public benefit mission, will have the power to appoint most of the board.
The arrangement is controversial. Voting power will not match the founders’ economic ownership, so public shareholders will have little practical say over how the company is run. That applies to a business whose own filing says its technology poses “catastrophic or existential risks to humanity.”
What the filing leaves out
Some numbers are still missing from the Anthropic IPO paperwork. The company has not said how much money it hopes to raise, and it has not set a proposed share price. Companies typically add those figures in an amended S-1 closer to the offering, once they start marketing shares to investors.
Until then, the first-half results in the Anthropic IPO filing give investors the clearest picture yet. Anthropic now brings in billions of dollars each quarter from enterprise customers, posts a much smaller operating loss than a year ago, and plans to hand public buyers shares that carry limited voting influence.