Anthropic files for IPO targeting up to $2 trillion valuation on Nasdaq

Anthropic filed Monday for an initial public offering on the Nasdaq exchange under the ticker ANT, with reports placing a potential valuation of up to $2 trillion — which would rank it among the largest public companies in the world.

The San Francisco-based company reported revenue of $16.3 billion in the first six months of 2026, a 1,300% increase year-on-year. Anthropic said it has more than 14,000 enterprise customers, with approximately 250 of those contributing $10 million or more in annual revenue.

The company posted a net loss of over $80 billion for the period, though more than $72 billion of that figure was attributable to changes in the fair value of convertible notes, derivative liabilities and SAFEs. Spending on AI infrastructure and computing accounted for just shy of $9 billion of the remainder.

Anthropic's founders' letter to potential shareholders warned of risks ranging from competition among AI laboratories to what they described as catastrophic or existential risks to humanity. The filing also acknowledged the possibility of AI demand growing more slowly than expected.

The company was last valued at $965 billion after raising $65 billion from investors in May. Trading is targeted to begin November 16; Anthropic has not yet disclosed the number of shares for sale or their price.

The IPO arrives as a wider wave of anticipated autumn AI public offerings has stalled, and as policymakers and the industry raise questions about AI safety and the pace of data-centre investment.