Anthropic filed preliminary paperwork for an initial public offering on October 26, 2026, but left the proposed share price and offering size blank. The Anthropic IPO has not been priced, and its Class A shares are not trading publicly.

Key Takeaways

  • Anthropic applied to list its Class A shares on the Nasdaq Global Select Market under the symbol ANT.
  • The registration statement is not yet effective, and the filing does not set an offering date.
  • The company reported $16.3 billion in first-half revenue and an $80.748 billion net loss.

Anthropic IPO price remains unset

The preliminary Form S-1 says both Anthropic and selling stockholders plan to sell Class A shares, but the number of shares and the price range are blank. Applying for a listing does not mean that a listing or sale has been completed.

The company carried out a 10-for-1 forward split of its Class A and Class N shares on September 17, 2026. The prospectus retroactively adjusts share and per-share figures for the split, making it important to distinguish older private transaction prices from post-split figures.

Private funding and first-half results

Anthropic raised $65 billion in a May 2026 Series H financing at a $965 billion post-money valuation. In February, its Series G raised $30 billion at a $380 billion post-money valuation. Neither valuation is a public trading price or an announced IPO valuation.

For the first half of 2026, Anthropic reported $16.3 billion in revenue and an $80.748 billion net loss. It also reported a $693 million operating loss for the half, comprising a $1.667 billion loss in the March quarter and $974 million in operating income in the June quarter.

The company said it does not expect revenue to continue growing at comparable rates. As of June 30, it held $112.4 billion in cash and equivalents and $19.3 billion in short-term investments.

Voting structure and customer concentration

Class A shares would carry one vote each. A separate Class F share held by a founder LLC carries 50.1% of votes on ordinary matters, while Class T allows the Long-Term Benefit Trust to elect a majority of the board. Anthropic says it will be a controlled company.

No single customer represented more than 10% of revenue for the nine months ended September 30, 2026. The company said more than 11,900 customers had generated at least $100,000 in trailing revenue as of that date.

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