Claude Takes a Public Share: Anthropic Files for Nasdaq Listing as “ANT”

Anthropic, the developer of the Claude family of AI models, filed an S-1 registration statement with the SEC for a proposed initial public offering, planning to list its Class A common stock on the Nasdaq Global Select Market under the ticker “ANT.” The public filing followed a confidential draft submitted to the SEC in June. Anthropic said on October 26, 2026 that the number of shares and price range had not been set and that both Anthropic and existing shareholders would sell shares. “A registration statement relating to these securities has been filed with the SEC but has not yet become effective,” the company said.

Goldman Sachs and Morgan Stanley were named first among 24 underwriters, while JPMorgan, Citigroup, Barclays and Wells Fargo were also listed. The Wall Street Journal reported that the public listing was reportedly set for the week of November 16. Reports said Anthropic plans to raise up to $100 billion at a valuation of up to $2 trillion, which could make it the largest IPO in U.S. history and surpass SpaceX, which went public earlier this year at a $1.77 trillion valuation. Reuters reported last month that backers were hoping for a valuation above $2 trillion.

According to the S-1, Anthropic reported revenue of $16.29 billion for the six months ended June 30, 2026, compared with $1.16 billion in the same period a year earlier. Full-year revenue was $4.59 billion in 2025, up from $386 million in 2024 and $41 million in 2023. The company recorded a net loss of $80.7 billion for the first half of 2026. Most of that came from a $72.4 billion charge for changes in the fair value of convertible notes and other instruments, which the filing said was primarily driven by an increase in its valuation. Its operating loss for the period was $693 million. Reuters reported that Anthropic lost nearly $42 billion in 2025, according to a draft IPO prospectus it reviewed.

As of June 30, 2026, Anthropic had raised $141.1 billion in total and held $112.4 billion in cash and cash equivalents, plus $19.3 billion in short-term investments, according to the filing. In May, it raised $65 billion at a $965 billion valuation. As of September 30, 2026, it had more than 1,900 customers generating at least $1 million in revenue over the previous 12 months and about 250 generating at least $10 million.

Anthropic is incorporated as a public benefit corporation, requiring its directors to balance shareholders’ financial interests with those affected by its conduct and its stated purpose: “the responsible development and maintenance of advanced AI for the long-term benefit of humanity.” Under the proposed structure, the Long-Term Benefit Trust, a body of five financially disinterested trustees, will elect a majority of the board through a special class of stock. Immediately before the offering, Anthropic will issue a single Class F share to an entity owned by its seven co-founders, carrying 50.1% of the voting power on most shareholder matters. The filing says that makes Anthropic a “controlled company” under Nasdaq rules.