Tech & AI
Anthropic files for Nasdaq IPO, showing $16.3 billion first-half revenue and an $80.7 billion loss
The AI lab's public filing lists the ticker ANT, founder voting control and a loss driven largely by non-cash charges.
HedgeWeekly Tech & AI Desk ·
Anthropic filed a registration statement with the US Securities and Exchange Commission on October 26 for an initial public offering of Class A shares on the Nasdaq Global Select Market under the ticker ANT. Goldman Sachs and Morgan Stanley are named on the preliminary prospectus. The share count and price range are blank, and the filing is not yet effective, so no shares can be sold.
The prospectus shows revenue of $16.3 billion for the first half of 2026, against $4.6 billion for all of 2025. Net loss was $80.7 billion, of which about $72.4 billion was a non-cash charge from revaluing convertible notes and similar instruments as the company's value rose. Cash and short-term investments were about $131.7 billion at June 30. Yahoo Finance reported that two customers supplied about a fifth of revenue.
On governance, a founders' entity holds a single Class F share carrying 50.1% of the vote, and a trust elects a board majority, so public Class A holders would have economic exposure but limited control. The filing also lists large multi-year cloud and chip commitments, including with Amazon and Google; Yahoo Finance put locked-in cloud deals above $430 billion. Valuation talk comes from press reports, not the filing.
Why it matters: this would be one of the largest AI listings and a direct test of how public investors price rapid growth against heavy compute obligations. Watch the price range and valuation when set, any amendments to the loss and commitment figures, and read-across to suppliers and partners named as counterparties.