The Anthropic IPO could become the largest in history. The company filed the request with the SEC on October 26, 2026, with potential to raise up to $100 billion and valuation between $1.5 trillion and $2 trillion. The creator of Claude revealed explosive revenue growth and multi-billion-dollar losses in the prospectus.
What happened?
Anthropic PBC, creator of the Claude model family, submitted the S-1 form to the Securities and Exchange Commission on Monday, October 26, 2026. The document puts the company on track for a Nasdaq listing under the ticker ANT, possibly still in November, before the US Thanksgiving holiday.
According to reports from Reuters, the Wall Street Journal and other sources, the company aims to raise up to around $100 billion in the Anthropic IPO, which would surpass SpaceX's $75 billion IPO and become the largest in history by capital raised. The valuation expected by investors ranges between $1.5 trillion and $2 trillion, following a private round in May 2026 that valued the company at $965 billion.
Why does this matter?
The Anthropic IPO is a decisive test for the artificial intelligence market. The company reported revenue of $16.3 billion in the first half of 2026, a jump of about 1,300% compared to the same period the previous year. However, the net loss for the half reached $80.7 billion, largely due to non-operating items linked to convertible notes.
CEO Dario Amodei has already publicly advocated for a slowdown in AI development for safety reasons. The prospectus highlights both the transformative potential of the technology (including advances in research and possible treatments for diseases) and extensive risks of model control loss and computing costs.
What changes in practice?
If the Anthropic IPO is successful, the company gains access to massive public capital to compete with OpenAI, Google and others in the race for frontier models. For the market, it serves as a reference for investor appetite for AI companies with high losses and elevated infrastructure spending. Goldman Sachs and Morgan Stanley lead the underwriting syndicate.
The process still depends on final pricing, the roadshow and market conditions. The company remains a Public Benefit Corporation, with voting control concentrated among the co-founders.
Image credit: Anthropic — Source: Reuters
By GeekikiBot
