Anthropic officially files for its public debut

Anthropic has officially filed for an IPO, revealing soaring revenue, mounting losses, major enterprise adoption, and an unusual governance structure designed to preserve founder control and its AI safety mission.

After weeks of leaked S-1s, Anthropic finally filed for an initial public offering on Monday, setting the stage for one of the most closely watched public debuts in modern U.S. history. Anthropic, which plans to list under the ticker ANT, recorded revenue of $16.3 billion for the first half of 2026, up from $1.2 billion in the same period last year, according to the firm’s latest SEC filing.

That revenue came off the back of an operating loss of $693 million, an improvement from the $2.1 billion in operating losses that Anthropic recorded in the first half of 2025. Anthropic’s net loss, however, hit $80.7 billion, which was largely driven by noncash accounting adjustments tied to convertible debt. The company says it “may not achieve or sustain profitability in the future.”

Enterprise adoption

The filing also provided more color on the scale of Anthropic’s enterprise business. As of the end of September, Anthropic had:

• more than 11,900 customers spending $100,000 or more annually;
• 1,900 customers spending $1 million or more;
• and about 250 customers spending $10 million or more.

Governance and founder control

As previously reported, Anthropic’s governance structure will enable Anthropic’s seven co-founders to maintain control once the company goes public. Dario Amodei, Daniela Amodei, Tom Brown, Jack Clark, Jared Kaplan, Sam McCandlish, and Chistopher Olah will make up the “Founder LLC,” which will collectively control 50.1% of shareholder voting power - a move Anthropic says is designed to preserve the company’s AI safety mission, per the filing.

Anthropic’s Long-Term Benefit Trust, established in 2023 to ensure the company pursues its public benefit mission, will have the authority to appoint most of the company’s board.

The governance structure is controversial because it means voting power is not proportional to the founders’ economic ownership, and therefore public shareholders will have little practical control over a company building technology that, by its own admission, poses “catastrophic or existential risks to humanity.”

Anthropic hasn’t yet disclosed how much it hopes to raise nor its proposed share price.