Anthropic files for its IPO: the maker of Claude could be worth up to $2 trillion

New York — Artificial intelligence company Anthropic, creator of the Claude models, took a decisive step toward the stock market on Monday: it filed with the U.S. Securities and Exchange Commission (SEC) the public version of its Form S-1, the document that opens the way to an initial public offering (IPO) that analysts expect to be one of the biggest ever.

According to reports cited by NPR, the deal could value the company at between $1.5 trillion and $2 trillion, under the ticker symbol ANT. That figure would put it in league with SpaceX, Elon Musk's rocketry and artificial intelligence company, valued at around $1.8 trillion when it listed in June. The prospectus does not say how many shares will be offered or at what price range.

Anthropic was founded just five years ago by a group of researchers who left OpenAI, led by Dario Amodei, concerned that the company, run by Sam Altman, was not on a path to develop artificial intelligence safely. Since then it has become OpenAI's biggest competitor and one of the companies with the most widely used models on the market.

In its prospectus, the company highlighted breakneck growth: its revenue in the first half of the year rose 1,300%, to $16.3 billion, while its adjusted operating income reached $1.6 billion, versus a loss of $1.8 billion in the same period the year before. However, Anthropic has yet to turn an annual profit and reported a loss of nearly $81 billion between January and June, versus $13 billion in the same six months of 2025.

The IPO could happen as soon as November, according to NPR, and will test investor appetite for artificial intelligence companies at a time of volatility, with doubts about whether profits will justify the sums invested. At its last private fundraising round, in May, Anthropic had a post-money valuation of $965 billion.

The prospectus also warns of risks, including that its models could develop faster than the company can keep them safe, or that they could be used to cause harm. The company is also in an open clash with the Pentagon over military use of its models: the Department of Defense designated it a “supply chain risk” and Anthropic has sued it in two federal courts, in litigation that remains ongoing.

Photo: NPR

Source: NPR