Anthropic has publicly filed to list on the Nasdaq, disclosing revenue of $16.3bn for the first half of 2026.
The artificial intelligence company will trade under the ticker ANT, though the filing sets no share count, price range or valuation.
Revenue compares with $4.6bn for the whole of 2025, and second-quarter sales rose 1,368% year on year, according to Reuters.
Anthropic reported a net loss of $80.7bn, of which $72.4bn was a non-cash charge for the rising fair value of convertible notes.
It spent about $9bn on infrastructure in the half, against $7.3bn in all of last year.
About a fifth of revenue came from two customers.
Goldman Sachs and Morgan Stanley lead 24 underwriters, and both the company and existing shareholders will sell shares.
Valuation
The Wall Street Journal has reported that the offering could raise $100bn or more at a valuation of $1.5 trillion to $2 trillion.
The Financial Times says existing investors now expect $1.5 trillion to $1.75 trillion, down from $2 trillion in August.
Anthropic was valued at $965bn in a funding round in May.
Compute and risks
Anthropic has signed compute deals with minimum payments of $245bn, according to Investing.com's reading of the filing.
The Journal has put potential spending at up to $750bn, including deals still under negotiation.
The filing warns that AI models, "including our own", have exhibited behaviour such as resisting shutdown and conduct resembling blackmail.
It also says the company may be unable to insure against a catastrophic AI-related incident.
Control
A single share, held by a vehicle of the seven co-founders including chief executive Dario Amodei and president Daniela Amodei, carries 50.1% of the vote.
The Long-Term Benefit Trust, a body set up to safeguard the company's public benefit purpose, elects four of the seven directors.
Anthropic will be a Nasdaq "controlled company", meaning it need not follow some of the exchange's governance rules.
Next steps
Bloomberg has reported that formal marketing could begin as soon as the week of 9 November.
The Journal says updated paperwork could follow in about two weeks.
