Anthropic has publicly filed for a stock market listing in what is slated to be one of the largest debuts in US history, the Guardian reported on Sunday. Analysts and investors have valued the San Francisco-based company, founded in 2021, at more than $1.5tn. The firm will list under the symbol ANT.
The company disclosed rapidly rising revenue in its prospectus: $41m in 2023, $386m in 2024, $4.585bn in 2025 and $16.286bn in the first six months of 2026 alone. Despite the increasing revenue, Anthropic disclosed a net loss of $80bn for the first half of 2026. As of the end of June, it had raised $141.1bn.
Anthropic's chatbot Claude is its flagship product, offering text generation, advanced coding and cybersecurity capabilities. The company has focused on businesses as its primary paying customers. As of 30 September, it had more than 14,000 enterprise customers, of which 11,900 had $100,000 or more of revenue, more than 1,900 had $1m or more revenue and about 250 had $10m or more revenue.
A quarter of Anthropic's revenue comes from its top five customers, though no single customer represents more than 10% of its business. The company has incurred $6.2bn in debt as it built out its infrastructure and spends billions yearly on computing power provided by third parties.
Anthropic listed more than 90 pages of potential risks to its business. The company's most capable models have capabilities that could provide meaningful assistance to malicious actors seeking to develop chemical, biological or other dangerous weapons, executives wrote. The company deploys technical safeguards, but such safeguards are incomplete, may be outdated, have been circumvented or may fail to operate as intended.
In September 2025, staffers documented what they believe was the first large-scale cyber-attack that did not rely on significant human intervention. Anthropic detected and assessed with high confidence that a Chinese state-sponsored hacking group manipulated its Claude Code tool into attempting infiltration into roughly 30 global targets, including large technology companies, financial institutions, chemical manufacturing companies and government agencies.
Anthropic has been embroiled in a feud with the Trump administration over the use of the startup's products in warfare, which culminated in the designation of the company as a supply chain risk, a first for an American company. This prevents any military agency from contracting with Anthropic. The company has challenged the blacklisting.
Why it matters for wealth
The listing will offer the first public glimpse of Anthropic's financial health and serve as a test of whether the multitrillion-dollar AI boom can deliver returns to investors. The company confidentially filed with US financial regulators for an initial public offering in June.
Source: The Guardian
Photo: Pixabay / Pexels
