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Anthropic files its prospectus to go public on the Nasdaq
IA en un minuto newsroom · Editor: Jon Elgezabal
In 30 seconds
Anthropic has filed with the SEC the prospectus for its Nasdaq debut under the ticker ANT, still with no price or share count. Its accounts reveal $16.3 billion in revenue and an $80.7 billion loss over the first six months of 2026, most of it from an accounting adjustment. The seven co-founders will control 50.1% of the vote and the Long-Term Benefit Trust will appoint most of the directors.
Anthropic, the company that created the artificial intelligence assistant Claude, has made the prospectus for its stock market debut public. It filed it on Monday, October 26, using Form S-1 with the SEC, the US markets regulator, according to its filing record, and in it the company asks for its Class A shares to trade on the Nasdaq Global Select Market with the ticker ANT.
The document shows its accounts for the first time. Revenue was $41 million in 2023, $386 million in 2024 and $4.6 billion in 2025, and in the first half of 2026 it reached $16.3 billion, 1,300% more than a year earlier. The company itself warns in the prospectus that it does not expect to keep up that pace of growth.
Anthropic has lost money every year since it was founded: $1.5 billion in 2023, $8.3 billion in 2024, $42 billion in 2025 and $80.7 billion in the first half of 2026. Of that last loss, $72.4 billion comes from the change in the fair value of its convertible notes, derivatives and SAFE agreements, mainly because those notes are worth more now that the company's valuation has gone up. In the same half of 2025, that item added up to $10.9 billion.
It also explains how control will be shared. Anthropic is a Delaware public benefit corporation, required to weigh its shareholders' financial interest against that of the people affected by its activity and against its stated purpose: developing and maintaining advanced AI responsibly so that humanity benefits from it in the long run. Just before the listing it will issue one single Class F share to a company owned by the seven co-founders, including chief executive Dario Amodei and board chair Daniela Amodei. That share, which carries no economic rights, will hold 50.1% of the votes on matters put to shareholders in general, including the election of the directors who are not Class T. Those other directors, the Class T ones, will be a majority on the board and will be chosen by the Long-Term Benefit Trust, a trust designed as an independent body whose members have no financial interest in the company.
Goldman Sachs, Morgan Stanley and J.P. Morgan are leading the deal, followed by Citigroup, Barclays and a long list of banks. The prospectus does not yet set the price per share, the number of shares or the date the shares will be delivered.
Why it matters · analysis and opinion
This is the first time one of the big AI model developers has shown its accounts in an official document that investors, customers and rivals can scrutinize. What emerges is a business growing at an unusual speed and a huge loss that, for the most part, does not reflect operating costs but the way convertible debt is accounted for when the company is worth more. Just as relevant as the numbers is how power is shared: whoever buys shares will have a limited say, because the founders and an independent trust keep the key decisions. That may reassure those who put AI safety first and put off those who want to influence management. For companies that work with Claude, the prospectus is also an inventory of their supplier's risks that is worth reading before relying on it any further.
Official source: SEC (Anthropic's Form S-1) · Written with the help of AI: how we make the news
