Anthropic, the maker of the Claude chatbot, publicly filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on Monday, October 26. The company wants its shares to trade on Nasdaq under the symbol „ANT”.
The document can be found in the EDGAR database of the U.S. regulator. The company had already submitted a confidential application in June, which gave the SEC time to analyze the financial data before it was disclosed to investors. As The Next Web reports, the prospectus does not include a price range or the number of shares offered. Goldman Sachs and Morgan Stanley are leading the offering, and the syndicate includes 22 banks in total.
Revenue, loss and operating profit
The prospectus shows that Anthropic’s revenue in the first half of 2026 amounted to $16.3 billion. As Yahoo Finance notes, that is far more than the $4.6 billion for all of 2025. According to that outlet, in the second quarter the company recorded $974 million in operating profit, the first time in its history.
The net loss for the half-year was $80.7 billion. According to The Next Web, most of it is an accounting cost rather than a cash expense: $72.4 billion relates to the increase in the value of convertible instruments, and another $8.8 billion to purchase agreements involving Google and Amazon. Anthropic also reports an adjusted measure, in which operating profit is $1.6 billion, or a 10 percent margin.
As of June 30, the company had $112.4 billion in cash and cash equivalents, and it had raised $141.1 billion in total capital, according to Investing.com. According to CNBC, obligations to computing power providers amount to about $417 billion, and planned spending on data centers and cloud capacity reaches at least $542 billion.
Risks and control structure
In the risk section, Anthropic warns that advanced AI systems could pose a „catastrophic or existential” threat to humanity, especially if misused or if they operate with significant autonomy. The company also describes scenarios in which models resist being shut down. These are risks identified by the company itself, not a description of how its products work day to day. According to The Next Web, seven co-founders are set to control 50.1 percent of the votes thanks to a single share.
When the debut and what valuation
The timing and valuation do not come from the prospectus. According to the „Wall Street Journal”, cited by The Next Web, Anthropic is targeting a week starting November 16, and the offering could raise $100 billion or more at a valuation of $1.5–2 trillion. Fox Business reported that the debut could take place on November 19 or 20. Fast Company writes about an investor roadshow starting November 9. The dates may change. In May, the company raised $65 billion at a $965 billion valuation, according to Fox Business.
This is another major tech debut following SpaceX, whose stock market launch and record offering we wrote about in our article on Elon Musk becoming the first trillionaire.
What it means for readers in Poland
„ANT” shares will trade in the U.S. in dollars. Polish retail investors will be able to buy them only through a broker with access to the U.S. market, and the allocation rules will be set by the banks. For now there is no price or price range, so assessing whether the investment makes sense is premature. The prospectus data does, however, show the scale of spending on AI infrastructure and the risks the company itself describes to investors.
