Anthropic, the company behind the Claude artificial intelligence assistant, filed Monday to take its shares public, revealing rapid revenue growth alongside large losses as it prepares for a Nasdaq listing.
The company intends to trade under the symbol “ANT,” but has not set the number of shares or a price range for the proposed offering, Anthropic announced in an October 26 statement.
The public filing follows a confidential draft registration statement that Anthropic submitted June 1. Monday’s announcement moves the offering into public view; it does not establish a trading date or a final valuation.
Revenue and costs
Revenue reached $16.3 billion in the six months ended June 30, compared with $1.2 billion during the same period in 2025, the company disclosed in its Form S-1 registration statement with the U.S. Securities and Exchange Commission.
Anthropic attributed the increase to new models and products, higher usage and broader adoption. Its first-half revenue exceeded the $4.6 billion it generated throughout 2025.
The company also recorded an $80.7 billion net loss in the first half of 2026. That figure included a $72.4 billion expense from changes in the fair value of convertible notes, derivative liabilities and simple agreements for future stock.
Those financing-related accounting changes explain much of the gap between the net loss and the company’s $693 million operating loss. Compute and infrastructure expenses alone totaled $8.9 billion during the six-month period.
Anthropic also reported $1.6 billion in adjusted operating income for the first half of 2026, compared with an adjusted operating loss of $1.8 billion a year earlier. That non-GAAP measure excludes costs that standard accounting includes. In the first half of 2026, Anthropic excluded $2.2 billion in stock-based compensation and $126 million in non-cash charitable contributions to arrive at the adjusted figure.
Control and AI risks
The proposed ownership structure would also leave Anthropic’s founders with substantial voting control. A company organized by its seven co-founders would hold a single Class F share carrying 50.1% of the voting power on matters submitted to stockholders generally, subject to the filing’s governance provisions.
The registration statement has not yet taken effect, Anthropic said in its announcement. The company cannot sell the securities or accept offers to buy them before that happens.
“We believe this abundance of AI will rapidly transform every sector of the global economy in ways greater than the impact of industrialization, electricity, semiconductors, and the internet. AI that truly delivers on its potential—with the risks well managed—could significantly accelerate global growth and dramatically improve quality of life for people around the world,” Anthropic said in its prospectus.
The company also warned that its models could cause harm or advance beyond its ability to maintain safeguards.
