What happened
On October 26, 2026, Anthropic, PBC filed a registration statement on Form S-1 with the US Securities and Exchange Commission, accession number 0001628280-26-067168. It is the first step toward an initial public offering of Class A common stock. Anthropic has applied to list on the Nasdaq Global Select Market under the symbol ANT.
The price range per share and the number of shares are left blank in this version of the filing, so the offering size and valuation are not established. Anthropic is a Delaware public benefit corporation, and the filing describes a governance structure that includes its Long-Term Benefit Trust and Class T stock.
Key numbers from the filing
All amounts are in US dollars as reported in the S-1.
- Revenue: $41 million in 2023, $386 million in 2024 and $4,585 million in 2025.
- First half of 2026: revenue of $16,286 million, against $1,163 million in the first half of 2025.
- Operating loss: $8,060 million in 2025 and $693 million in the first half of 2026, on total operating expenses of $16,979 million.
- Net loss: $41,965 million in 2025 and $80,748 million in the first half of 2026. The half-year figure includes a $72,388 million loss from changes in the fair value of notes, derivatives and SAFEs.
- Cash, cash equivalents and short-term investments: $131,651 million as of June 30, 2026.
- Customers with $100,000 or more of trailing twelve-month revenue: more than 11,900 on September 30, 2026, up from more than 950 a year earlier.
What it means for you
Most of the first-half 2026 net loss comes from fair-value changes on financial instruments rather than from operations, since the operating loss for the period was $693 million. The filing also lists $8,945 million of compute and infrastructure costs for the first half of 2026 and a $1,500 million copyright settlement recorded in 2025.
For people using Claude, the filing does not announce changes to plans, prices or models. An S-1 can still be amended before any offering, so treat the blank fields as open until a later version fills them in.
Go to the source
Sources & further reading
Based on the official documentation below. Features and access can change; check the provider before making a decision.
Was this page useful?
Help us make our coverage more useful. This is feedback on the page, not a rating of the tool.
Go a little further