Anthropic made its S-1 public and plans to list on the Nasdaq under the ticker ANT. The filing shows first-half 2026 revenue of $16.29 billion and a net loss of $80.7 billion, driven largely by accounting charges.
Anthropic filed a public Form S-1 with the SEC and plans to list on the Nasdaq under the ticker ANT. The company behind Claude had filed confidentially in June, which gave the agency time to review its financials before they went public.
The initial public offering is expected to be historic for a five-year-old company.
Revenue rises 1,304% as the loss reaches $80.7 billion
Anthropic said revenue increased 1,304% to $16.29 billion in the six months ended June 30, up from $1.16 billion a year earlier. Over the same stretch, it lost $80.7 billion, compared with a $12.9 billion loss in the first half of 2025.
The loss largely reflects charges tied to changes in the value of convertible notes, which Anthropic said resulted from an increase in its enterprise valuation. According to Decrypt, the filing shows a $72.4 billion charge for changes in the fair value of convertible notes and other instruments, while the operating loss for the period was $693 million.
Anthropic held $112.4 billion in cash and cash equivalents at June 30, plus $19.3 billion in short-term investments.
Founders keep 50.1% of the voting power
Goldman Sachs and Morgan Stanley are the lead underwriters. The seven co-founders will be the sole members of Founder LLC, which will hold 50.1% of the voting power of outstanding shares, the filing said.
Anthropic said its capital and governance structure "has no direct public company precedent."
The filing also details compute costs. Anthropic will pay SpaceX around $3.1 billion per month once all promised capacity is delivered.
Traders react before a price range exists
Anthropic has not yet set the share count or price range, according to CoinDesk. On Hyperliquid, the ANTH contract jumped to about $1,980 around the 9 a.m. ET filing time, then dropped roughly 6% to about $1,857 within minutes.
Neoclouds such as CoreWeave and Nebius lost over 30% of their value in October, while credit risk is rising across the data center space.
Sources: SEC Form S-1, CNBC, Decrypt, CoinDesk
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