Following several weeks of leaked S-1 documents, Anthropic officially submitted its filing for an initial public offering on Monday, positioning itself for one of the most keenly observed public listings in recent U.S. history.
As per its most recent SEC submission, Anthropic, slated to trade as “ANT,” reported revenues of $16.3 billion for the first half of 2026, a substantial increase from $1.2 billion during the corresponding period last year.
Despite this impressive revenue, the company posted an operating loss of $693 million, which marks an improvement compared to the $2.1 billion in operating losses seen in the first half of 2025. Nevertheless, Anthropic’s net loss reached $80.7 billion, predominantly due to non-cash accounting adjustments related to convertible debt. The firm explicitly stated that it “may not achieve or sustain profitability in the future.”
The filing also shed further light on the extent of Anthropic’s enterprise operations. By the close of September, Anthropic served over 11,900 customers who spent $100,000 or more annually; 1,900 customers with annual spending of $1 million or more; and approximately 250 clients spending $10 million or more each year.
In line with prior reports, Anthropic’s governance framework is structured to allow its seven co-founders — Dario Amodei, Daniela Amodei, Tom Brown, Jack Clark, Jared Kaplan, Sam McCandlish, and Christopher Olah — to retain control after the company goes public. These individuals will constitute the “Founder LLC,” collectively holding 50.1% of the shareholder voting power, a strategy Anthropic states in the filing is intended to uphold its AI safety mission.
The Long-Term Benefit Trust, which Anthropic established in 2023 to guarantee its dedication to its public benefit mission, will possess the power to appoint the majority of the company’s board members.
This governance arrangement sparks debate because it decouples voting power from the founders’ economic stake, consequently granting public shareholders limited practical influence over a company developing technology that, by its own account, presents “catastrophic or existential risks to humanity.”
Anthropic has not yet specified the amount it intends to raise or its proposed share price.