Anthropic, the developer of artificial intelligence chatbot Claude, has filed for an initial public offering in the United States, with reports suggesting the company is targeting a valuation of up to $1.75 trillion.
The San Francisco-based company submitted its registration statement to the US Securities and Exchange Commission on Monday, October 26, following a confidential filing in June.
According to Forbes, Anthropic is considering a valuation between $1.5 trillion and $1.75 trillion, while the offering could raise about $100 billion or more.
The filing did not disclose the number of shares the company intends to offer or its target valuation. However, Anthropic plans to list its shares under the ticker symbol ANT.
The Wall Street Journal reported that the listing could take place during the week of November 16, ahead of the US Thanksgiving holiday. Goldman Sachs and Morgan Stanley are leading the offering, alongside 20 other banks named in the filing.
Anthropic reported revenue of approximately $16.3 billion in the first half of 2026, compared with $1.2 billion during the same period last year.
Despite the revenue growth, the company recorded a net loss of about $81 billion over the six-month period, according to the filing. More than $72 billion of the loss was attributed to charges associated with changes in the valuation of convertible notes.
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The company also spent nearly $9 billion on computing capacity and cloud infrastructure in the first half of the year, up from $2.3 billion during the corresponding period in 2025.
Anthropic had separately informed investors that its third-quarter revenue rose to $16.8 billion, representing an increase of nearly 50 per cent from the previous quarter.
The company’s filing also outlines a multi-class share structure comprising five categories with different voting rights. Under the proposed arrangement, its seven founders would retain 50.1 per cent of the company’s total voting power through Class F shares.
Its Long-Term Benefit Trust would hold Class T shares, granting it the authority to appoint a majority of the board of directors.
Anthropic also plans to establish a Public Benefit Fund which, subject to shareholder approval, would receive at least five per cent of the company’s shares after the IPO. The fund is expected to support non-profit organisations and make direct distributions to selected populations, excluding political donations and lobbying activities.
Founded in 2021 by former OpenAI employees and researchers, including Chief Executive Officer Dario Amodei, Anthropic develops Claude, a family of AI models competing with OpenAI’s ChatGPT and Google’s Gemini.
Amazon, Google and Nvidia are among the company’s major investors, having committed billions of dollars to its development.
Anthropic’s prospectus also acknowledges the potential catastrophic or existential risks associated with its technology, alongside its capacity to address major global challenges.
About the Author
Cecilia Attah is a tech analyst with a degree from Benue State University. She covers tech news and startups at TechRegard with a focus on how technology is transforming Africa and shaping the global landscape.
