Anthropic files for Nasdaq IPO at potential $2 trillion valuation

Anthropic has announced that it filed an S-1 with the US Securities and Exchange Commission for an initial public offering on Nasdaq. The company plans to list under the ticker 'ANT' and aims to price its offering in mid-November. Reports suggest that Anthropic could raise up to $100 billion for the IPO, which would give it a valuation of as much as $2 trillion. This filing marks a significant step for artificial intelligence companies entering the public markets.

Financial disclosures in the filing show that Anthropic recorded revenue of $16.3 billion for the first half of 2026. The company reported an operating loss of $693 million in that period, an improvement from the $2.1 billion in operating losses recorded in the first half of 2025. However, the net loss hit $80.7 billion, which was largely driven by noncash accounting adjustments tied to convertible debt. As of the end of September, Anthropic had more than 11,900 customers spending $100,000 or more annually.

At Anthropic's latest private market valuation of $965 billion, the stakes held by many venture capitalists and early backers already total billions. Eric Schmidt invested in Anthropic's Series A in 2021 when the startup was valued at $461 million. He owns about 1% of Anthropic, and his stake is worth nearly $10 billion at the company's current private valuation. Iconiq wrote a $6 billion check to Anthropic last year when the company was valued at $183 billion.

Coatue first backed Anthropic in 2025 at a $183 billion valuation and co-led the AI lab's last two funding rounds. The firm has poured a total of $4.75 billion into Anthropic. Coatue's stake in Anthropic is now worth roughly $7.5 billion based on the last round's price. The company's public listing is expected this year, with the valuation potentially reaching $2 trillion.