Anthropic, the company behind the Claude AI assistant, filed on Oct. 26 to sell shares to the public on the Nasdaq under the ticker ANT. The Anthropic IPO has no price or share count yet, but the filing already shows what a buyer would get: a business growing very fast, very large losses on paper, and almost no say over who runs the company.
The short version
Anthropic has filed to list its Class A shares on the Nasdaq as ANT. The price and the number of shares have not been set, and nothing can be sold until US regulators let the filing take effect.
- Anthropic made $16.3 billion in revenue in the first six months of 2026, about $90 million a day.
- It reported a net loss of $80.7 billion for the same six months, but its operating loss, which tracks the day-to-day business, was $693 million.
- The shares sold to the public carry one vote each, while a company owned by the seven co-founders will hold 50.1% of the votes on most matters.
- A separate trust, not shareholders, elects the majority of Anthropic’s board.
- The filing does not change Claude’s plans or prices.
What did Anthropic file?
In its announcement, Anthropic said it filed a registration statement, known as a Form S-1, with the US Securities and Exchange Commission (SEC). An S-1 is the long document a company must publish before it can sell stock to the public for the first time.
Anthropic plans to sell Class A common stock on the Nasdaq Global Select Market under the symbol ANT. It said the number of shares and the price range “have not yet been determined.” Anthropic named Goldman Sachs and Morgan Stanley as the banks to contact for the prospectus. No shares can be sold until the SEC declares the registration effective.
It is the same kind of document OPay filed for its New York listing this month.
How fast is Anthropic growing?
Very fast, by its own numbers. Anthropic’s revenue was $41 million in 2023, $386 million in 2024 and $4.6 billion in 2025. In the first six months of 2026 alone it was $16.3 billion, up from $1.2 billion in the same months of 2025.
We did the math: $16.3 billion over the 181 days from January to June is about $90 million a day. In the April to June quarter, revenue was $11.6 billion, or about $127 million a day.
Businesses are a big part of that. The number of customers paying Anthropic $100,000 or more a year grew from more than 950 to more than 11,900 between Sept. 30, 2025 and Sept. 30, 2026, about 12 times as many. The filing itself warns that it does not expect revenue to keep growing at rates like these.
Why the Anthropic IPO filing shows an $80.7 billion loss
The headline loss looks enormous. Anthropic reported a net loss of $42 billion for 2025 and $80.7 billion for the first six months of 2026.
The filing says those net losses include changes in the value of convertible notes and other financial items, not only the cost of running the business. Its operating loss, which leaves those items out, was $693 million for the first half of 2026, down from $2.1 billion a year earlier. So the day-to-day business lost far less than the headline number suggests, though it still lost money. By its own adjusted measure, which leaves out some costs, Anthropic reported $1.6 billion in adjusted operating income for the first half of 2026, up from an adjusted loss of $1.8 billion a year earlier.
Who controls Anthropic after the IPO?
The upshot: buying ANT would give you a share of the business, but very little say over how it is run.
- Class A shares, the ones sold to the public, carry one vote each.
- Class F is a single share held by a company owned by Anthropic’s seven co-founders. It carries 50.1% of the total votes on matters that go to shareholders, including electing the directors that shareholders pick.
- Class T is held by the Long-Term Benefit Trust, a group of trustees the filing describes as having no financial stake in the company. The trust elects the directors who make up a majority of the board.
Because the founders hold more than half the votes, Anthropic will be a “controlled company” under Nasdaq rules, which can let it skip some Nasdaq rules on board independence. The filing says the non-voting Class N shares are held mainly by strategic business partners, and they turn into ordinary voting shares if sold to an unrelated buyer.
Anthropic is a public benefit corporation, which means its legal purpose includes “the responsible development and maintenance of advanced AI for the long-term benefit of humanity,” not only profit. Separately, the Federal Trade Commission is investigating AI safety practices at Anthropic and OpenAI, a probe first reported on Sept. 30, as we reported.
Does anything change for Claude users?
Not today. Nothing in Anthropic’s announcement changes Claude’s free plan, its paid plans or their prices. The filing does say Anthropic began merging its Claude Cowork tool with the main Claude app in September 2026.
What to watch next
The next filing should add a price range and the number of shares. After that comes the SEC’s approval, the pricing the night before trading, and the first day of trading on the Nasdaq. Most people who want shares will only be able to buy them through a brokerage app once trading starts, at whatever the market price is that day.
TechCity is not a financial adviser. Before you buy any newly listed stock, read the risk section of the filing on the SEC website.
