Anthropic files to list on the US stock market as revenue soars

Anthropic, the artificial intelligence company behind the Claude models, has formally filed to become a publicly listed company in the United States, setting the stage for one of the most closely watched stock market debuts in years.

The company filed its paperwork with the US Securities and Exchange Commission on Monday, after weeks of leaked drafts. It plans to list under the ticker "ANT", but has not yet said how much it hopes to raise or what its share price will be.

Revenue up more than thirteenfold

The filing shows how fast the business has grown. Anthropic recorded revenue of $16.3 billion in the first half of 2026, up from $1.2 billion in the same period last year.

Its operating loss narrowed to $693 million, from $2.1 billion a year earlier. Its net loss, however, was $80.7 billion, which the filing says was largely driven by non-cash accounting adjustments linked to convertible debt. The company warns that it "may not achieve or sustain profitability in the future."

Much of the growth comes from businesses. By the end of September, Anthropic had more than 11,900 customers spending $100,000 or more a year, more than 1,900 spending over $1 million, and about 250 spending $10 million or more.

One product leads to another

The filing describes a strategy of drawing business customers from one product into others. More than half of customers spending at least $100,000 a year now use both the Claude developer platform and one of the company's own apps, such as Claude Code or Cowork, up from about 30 per cent at the end of last year.

"The speed and depth of our enterprise customer adoption are powerful evidence of Claude's position at the frontier of AI," the filing says.

Anthropic sells through Amazon Web Services, Google Cloud and Microsoft Azure as well as directly. But it also flags a risk: the cloud companies that help it sell Claude increasingly see it as a competitor, which it says could make it harder to secure the computing power it needs.

Founders keep control

The company's seven co-founders, among them Dario Amodei and Daniela Amodei, will form a "Founder LLC" that controls 50.1 per cent of shareholder voting power after the listing. Anthropic says the structure is designed to protect its AI safety mission. Its Long-Term Benefit Trust, set up in 2023, will be able to appoint most of the board.

The arrangement has drawn criticism, because public shareholders will have little practical control over a company that, by its own admission, is building technology that poses "catastrophic or existential risks to humanity".

Why it matters here

The British government has made AI a central part of its economic plans. On Saturday Anthropic committed up to £100 million in model credits and support to a new UK AI Biosecurity Lab, announced by the Chancellor.

The listing will be a test of how much investors are willing to pay for the companies building the most advanced AI systems, and of whether those companies can turn rapid growth into lasting profits.