- Anthropic filed a Form S-1 on 26 October 2026 and applied to list Class A stock on Nasdaq as ANT; share count and price range are blank.
- Revenue was $16.3 billion for the six months ended 30 June 2026, up from $1.2 billion a year earlier, with an operating loss of $693 million.
- The half-year net loss was $80.7 billion, of which $72.4 billion is a change in the fair value of convertible notes, derivative liabilities and SAFEs, the S-1 says.
Anthropic, PBC filed a Form S-1 with the SEC on 26 October 2026 for an initial public offering of its Class A common stock. It has applied to list on the Nasdaq Global Select Market under the symbol ANT. The number of shares and the price range are blank in the filing, and Anthropic says the registration statement has not yet become effective. The prospectus lists 18 underwriters; Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are their representatives. The filing reports revenue of $16.3 billion for the six months ended 30 June 2026, against $1.2 billion in the same months of 2025, and an operating loss of $693 million. Its net loss for the half-year is $80.7 billion, of which $72.4 billion is a change in the fair value of convertible notes, derivative liabilities and SAFEs, driven mainly by the rise in Anthropic's enterprise valuation. In its section on enterprise adoption of Claude, the S-1 says that at 30 September 2026 more than 11,900 customers each spent $100,000 or more over the trailing twelve months, more than 1,900 spent $1 million or more and about 250 spent $10 million or more. It says over half of the $100,000-plus customers used Claude Platform and at least one first-party application, such as Claude Code or Claude Cowork. Governance is set out at length: a Long-Term Benefit Trust elects a majority of the board through Class T stock, and a Class F share held by a founders' LLC carries 50.1% of general voting power.
What it means for you Our view
If Claude is part of your stack, read the S-1 sections on enterprise adoption and compute commitments before your next renewal. The filing is a draft: Anthropic says it has not yet become effective and leaves the share count and price range blank, so figures can change. The $80.7 billion net loss is mostly the $72.4 billion fair-value change, so the $693 million operating loss is the better measure of the business. The S-1 says over 50% of its $100,000-plus customers use Claude Platform and at least one first-party application such as Claude Code or Claude Cowork. Ask your Anthropic account team how the listing affects contract terms and pricing.
TAGSAnthropicClaudeClaude CodeClaude Cowork
