Anthropic says it met its AI R&D threshold, judged on expected future models

Amendment No. 2 to Anthropic, PBC's Form S-1 (Registration No. 333-299633) was filed with the SEC on 10 November 2026. In its risk factors Anthropic says: "we made a determination that we have met this threshold based on what we expect from future models and our overall rate of progress, rather than on what we have observed from current models." The "threshold" is "the AI research and development capability threshold under our Responsible Scaling Policy".

As filed with the Securities and Exchange Commission on November 10 , 2026. Registration No. 333-299633 ... AMENDMENT NO. 2 TO FORM S-1 ... Because the AI research and development capability threshold under our Responsible Scaling Policy applies where we “observe or expect” a specified degree of accelerated progress, we made a determination that we have met this threshold based on what we expect from future models and our overall rate of progress, rather than on what we have observed from current models.

Amendment No. 2 says the AI research and development capability threshold under Anthropic's Responsible Scaling Policy "applies where we 'observe or expect' a specified degree of accelerated progress".

Because the AI research and development capability threshold under our Responsible Scaling Policy applies where we “observe or expect” a specified degree of accelerated progress, we made a determination that we have met this threshold based on what we expect from future models and our overall rate of progress, rather than on what we have observed from current models.

Amendment No. 2 says: "We continue to assess the underlying data. We are also evaluating the implications of meeting the AI research and development capability threshold and will release further reports in the future."

We continue to assess the underlying data. We are also evaluating the implications of meeting the AI research and development capability threshold and will release further reports in the future.

The corresponding risk-factor passage in Amendment No. 2 (filed 10 November 2026) does not contain the phrases "may imminently meet" or "not designated any of our current models"; the document as filed contains neither phrase anywhere.

Searched the full text of Amendment No. 2 as filed (12 Nov 2026): 0 occurrences of "may imminently" and 0 of "designated any"; the corresponding passage now reads: Because the AI research and development capability threshold under our Responsible Scaling Policy applies where we “observe or expect” a specified degree of accelerated progress, we made a determination that we have met this threshold based on what we expect from future models and our overall rate of progress, rather than on what we have observed from current models.

Amendment No. 2 says: "our use of AI systems has already been accelerating our research and development, and our internal estimates indicate that we may experience a further increase in the rate of progress in AI capabilities."

our use of AI systems has already been accelerating our research and development, and our internal estimates indicate that we may experience a further increase in the rate of progress in AI capabilities.

Amendment No. 2 says: "We are also considering additional measures, including updates to our Responsible Scaling Policy, to require human review and approval of certain decisions in our research and development processes as our models perform an increasing share of that work."

We are also considering additional measures, including updates to our Responsible Scaling Policy, to require human review and approval of certain decisions in our research and development processes as our models perform an increasing share of that work.

Amendment No. 1 to Anthropic's S-1, filed 2 November 2026, says: "our internal estimates and our expectations regarding future models, rather than our current models, indicate that we may imminently meet our Responsible Scaling Policy's definition of 'dramatically accelerated progress attributable to AI.' We have not designated any of our current models as exceeding this threshold, and we continue to assess the underlying data."

RSP v3.4: a model is "highly capable" if Anthropic concludes that it crosses the threshold for automated AI R&D described in Section 1; at a minimum it will complete a full external review with at least one external reviewer anytime a Risk Report covers highly capable models and is significantly redacted.

At a minimum, we will complete a full external review process (described below) with at least one external reviewer anytime a Risk Report covers highly capable models and is significantly redacted, defined as follows: A model is "highly capable" if we conclude that it crosses the threshold for automated AI R&D described in Section 1.

RSP v3.4 section 3.1 says Anthropic will publish an analysis of an individual model's risks within 30 days of determining that it has an internally deployed model that could pose risks related to high-stakes misalignment or automated R&D that significantly exceed those of all models for which it has publicly analyzed such risks.

3.1. Scope and Timing ... Off-cycle updates. Separate from our publication of Risk Reports, we will publish an analysis of an individual model's relevant risks ... in the following circumstances: ... Within 30 days of determining that we have an internally deployed model that (1) could pose risks related to high-stakes misalignment or automated R&D that (2) significantly exceed those of all models for which we have publicly analyzed such risks

RSP v3.4 introduction: "Our Responsible Scaling Policy (RSP) is our voluntary framework for managing catastrophic risks from advanced AI systems."

Our Responsible Scaling Policy (RSP) is our voluntary framework for managing catastrophic risks from advanced AI systems.

Anthropic's Responsible Scaling Policy page, as opened on 12 November 2026 (last updated 14 August 2026), lists Version 3.4 (effective 8 July 2026) as the newest version, and its newest dated entry is 14 August 2026 (the August 2026 Risk Report); it carries no entry about the threshold being met.