Anthropic, the AI company that has spent years urging its industry to slow down, now plans to sell shares to the public. It has filed a Form S-1 with the Securities and Exchange Commission, which confirms the stock will trade on Nasdaq under the ticker “ANT.”
The offering could value Anthropic at roughly $2 trillion, and shares are expected to start trading in mid-November. That valuation could still change: according to Anthropic, the share count and pricing “have not yet been determined.”
Anthropic announced the filing in a post on its website. In June it sent the SEC a draft of the S-1.
Revenue jumped 1,368 percent, and costs climbed too
In the three months ending June 30, 2026, revenue was up 1,368 percent from the same period a year earlier. Compute and infrastructure spending grew 300 percent over those three months.
The company has a lot of cash on hand. “As of June 30, 2026, we had raised an aggregate of $141.1 billion of capital and had cash and cash equivalents of $112.4 billion and short-term investments of $19.3 billion,” Anthropic wrote in the filing.
The June draft fills in something the growth figure doesn’t show: Anthropic reported an $8 billion operating loss last year.
The risk section reads like a warning label
Anthropic sorts the dangers of AI into four categories of risk: misuse, loss of control, authoritarian abuse and economic disruption.
The filing doesn’t stop at that list. Anthropic claimed that a highly capable frontier AI model would “become widely available within a few years.” It describes that model as able to exceed the cognitive capabilities of top human experts, operate every interface a person working virtually would use, and interact with the physical world through lab equipment and robotic systems.
Few companies put that kind of claim in front of investors, though it matches how Anthropic talks in public. CEO Dario Amodei published a three-step plan aimed at curbing AI’s concerning rate of development. The company has also pushed to slow the AI race while ranking among the industry’s leading companies.
Anthropic’s pitch to investors closes with its stated goal: “to help humankind chart a safe course through this technological evolution, open new frontiers of discovery and bring forth an age of miracles.”