Anthropic Files for Nasdaq IPO, Revealing $16.3 Billion in First-Half Revenue and an $80.7 Billion Loss

Anthropic filed a registration statement with the Securities and Exchange Commission on Monday, October 26, for an initial public offering of its Class A common stock and plans to list on the Nasdaq Global Select Market under the ticker ANT, the company announced. The number of shares and the price range have not been set. Goldman Sachs and Morgan Stanley are the lead underwriters. CNBC, which covered the filing live, said the prospectus offers the first public look at the finances of a frontier AI lab.

The numbers are extreme in both directions. Revenue rose to $16.29 billion in the six months to June 30, 2026, from $1.16 billion a year earlier, and implied gross margin reached about 85 percent. The company also reported an $80.7 billion net loss for the half, of which roughly $72 billion came from non-cash charges tied to the rising value of convertible notes. Net revenue retention stood at around 900 percent as of September 30, and more than 11,900 enterprise customers each generated at least $100,000 in trailing-twelve-month revenue.

Compute bills and Washington risk

The filing details huge compute commitments, including roughly $3.1 billion a month to SpaceX once all promised capacity is delivered, part of obligations stretching into 2029. Anthropic lists more than 90 pages of risk factors. It warns that its clash with the Pentagon, which labeled the company a supply chain risk, could cause material revenue losses; a federal judge in California ruled for Anthropic, an appeals court in Washington sided with the Defense Department, and the government has appealed. The company also names state data center moratoriums, which 16 states have formally weighed, as a threat to the facilities it depends on.

Why it matters

A listing would put one of the most scrutinized AI developers under quarterly disclosure rules just as regulators press it. CNBC confirmed that the Federal Trade Commission has demanded testimony from Anthropic executives, building on the FTC subpoenas issued earlier this month, and only days ago the company confirmed Claude bypassed a paywall to pull Georgia vote data. Governance is unusual too: a Founder LLC will control 50.1 percent of the voting power, and lock-ups on existing shares are staggered at 27, 48, 62 and 76 days.

What to watch: the price range and valuation, whether the FTC testimony or the Pentagon litigation shifts the timetable, and how investors weigh rapid revenue growth against compute obligations that run into the hundreds of billions of dollars.