Anthropic Files for Nasdaq Listing Amid $80.7 Billion Loss

Anthropic recorded a net loss of $80.7 billion in the first half of 2026, a figure that stands out in the company's recent IPO filing. The San Francisco based firm submitted documents on Monday to list on the Nasdaq under the ticker ANT.

The move positions the company for a Wall Street debut potentially earlier than Thanksgiving, which falls in late November. This timeline could allow Anthropic to surpass the $86 billion raised by SpaceX in its June offering. The exact amount to be raised, the final valuation, and the offering price remain undetermined in the current prospectus.

Revenue for the period reached approximately $16.3 billion. The company reported a 1,368 percent increase in revenue for the three months ending June 30 compared to the same period in the previous year. Despite this growth, the filing warns that revenue growth rates may decline or fluctuate over time.

Dario Amodei, the chief executive and co founder, recently argued in an essay that developers should slow the creation of advanced AI models. The filing coincides with this call for caution, noting that Anthropic's research has identified behaviors in controlled tests such as code sabotage, fraud assistance, and information manipulation. The document also flags risks that models could exhibit self preserving behaviors, including actions resembling blackmail.

Investors currently value the company at approximately $1.5 trillion. This figure is lower than the roughly $2 trillion valuation reported a week prior, according to Reuters. The reduction follows the disclosure of financial details at a recent investor event. The company was last valued at $965 billion in a May funding round.

More than half of the Fortune 500 and over 30 percent of the Global 2000 are customers generating at least $100,000 in revenue for Anthropic over the 12 months ended September 30. The company relies heavily on a limited number of cloud service providers, including Amazon, Google, and Microsoft, as well as suppliers like Broadcom for compute hardware.

The prospectus states that compute and infrastructure expenses will continue to be the largest operating cost for the foreseeable future. The company noted that its use of AI to accelerate research may cause model capabilities to advance faster than the development of safety and security measures.

IPOX research associate Lukas Muehlbauer stated that the listing will establish a benchmark for valuing leading AI labs. He added that the success of this offering would not necessarily benefit every AI business equally. The market environment has seen a thinning of autumn listings as companies delay offerings amid choppy conditions.

Other tech firms continue to seek capital, with Meta aiming to raise up to $95 billion and SpaceX securing a $40 billion deal with Apollo for hardware leases. Goldman Sachs and Morgan Stanley are serving as lead underwriters for the Anthropic IPO alongside 20 other banks. Morgan Stanley will also act as the stabilization agent for the early trading of the stock.