Anthropic files S-1 registration statement for public listing with the SEC Anthropic

Anthropic officially filed its Form S-1 registration statement with the US Securities and Exchange Commission to prepare for an initial public offering.

The filing provides the first comprehensive audit of Anthropic's finances, governance structure, and long-term compute obligations. Revenue reached $16.3 billion in the first six months of 2026, up from $1.2 billion in the same period of 2025 and $4.6 billion for all of 2025. Anthropic told prospective investors that third-quarter revenue grew another 45%.

The company reported a net loss of $80.7 billion for the first half of 2026, primarily driven by $72 billion in non-cash revaluations of convertible debt instruments that convert into equity upon listing. Actual operating expenses totaled approximately $17 billion for the half-year, including $9 billion on compute and infrastructure, $3.2 billion on marketing, $3.2 billion on personnel, and $1.7 billion on administrative costs, resulting in an operating loss of $0.7 billion.

Anthropic holds approximately $132 billion in cash and equivalents, alongside long-term compute commitments extending through 2045. Governance remains tightly controlled: seven founders will retain 50.1% of voting power through a dedicated class of shares.

What it is

• S-1 registration: Formal SEC filing initiating Anthropic's public market debut.
• Revenue scale: Revenue reached $16.3 billion in the first half of 2026, up fourteenfold year-over-year.
• Operating breakdown: Six-month cash spend included $9 billion for compute infrastructure and $3.2 billion for marketing.
• Dual-class governance: Anthropic's seven founders will retain 50.1% voting control via a special class of common stock.

Sources

• Anthropic Form S-1 Registration Statement (SEC EDGAR)