Anthropic files for a Nasdaq IPO under ticker ANT, showing $16.3 billion of first-half revenue

Key figure: Revenue, six months ended June 30, 2026: $16.3B, up 1,300% from $1.2B. Source: Anthropic S-1, 9:00 a.m. ET, Oct. 26, 2026.

Key points

• Anthropic publicly filed an S-1 to list Class A stock on the Nasdaq Global Select Market as “ANT”; the price range and share count are blank.[1][2]
• Revenue was $16.3 billion in the six months ended June 30, 2026, up 1,300% from $1.2 billion a year earlier, the filing shows.[1]
• The six-month net loss was $80.7 billion, including a $72.4 billion fair-value change; the operating loss was $693 million.[1]
• For 2025, revenue was $4.6 billion and the net loss $42.0 billion. Goldman Sachs and Morgan Stanley head the underwriter list.[1]

What happened

Anthropic, PBC filed a Form S-1 registration statement with the SEC for an initial public offering of Class A common stock; EDGAR accepted it at 9:00 a.m. ET Monday. The company has applied to list on the Nasdaq Global Select Market under the symbol “ANT.” The preliminary prospectus is marked subject to completion, with the price range and share count left blank. Goldman Sachs and Morgan Stanley head the 22 underwriters on the cover. Anthropic submitted draft registration statements confidentially from June 1, EDGAR shows.[1][2][3]

What the filing shows

Revenue was $16.3 billion in the six months ended June 30, 2026, up from $1.2 billion a year earlier, an increase of 1,300%, the filing says. Revenue for 2025 was $4.6 billion, up from $386 million in 2024. The operating loss for the six months was $693 million.[1]

The six-month net loss of $80.7 billion includes a $72.4 billion change in the fair value of convertible notes, derivative liabilities and SAFEs, “primarily driven by an increase in the fair value of our outstanding convertible promissory notes resulting from an increase in our enterprise valuation,” the filing says. Other expense, net, was $8.8 billion, mainly tied to note purchase agreements. The 2025 net loss of $42.0 billion included a $34.3 billion fair-value change. CNBC posted filing details from 9:02 a.m. ET, Bloomberg at 9:08 a.m. and Reuters at 9:12 a.m.[1][4][5][6]

Why it matters: the S-1 is the first public look at Anthropic’s audited financial statements, which the SEC had until now reviewed only as confidential drafts.[1][3][4]

Exhibit 1. First-half revenue rose 1,300% Revenue, $ billions, six months ended June 30

Period	Revenue
Six months ended June 30, 2025	$1.2 billion ($1,163 million)
Six months ended June 30, 2026	$16.3 billion ($16,286 million)

Source: Anthropic S-1. Chart: New Street.[1]

Exhibit 2. Most of the six-month net loss came from fair-value changes $ millions, six months ended June 30; losses in parentheses (unaudited)

Line item	2025	2026
Operating loss	(2,135)	(693)
Interest income	115	1,111
Fair value change: convertible notes, derivative liabilities, SAFEs	(10,942)	(72,388)
Other income (expense), net	0	(8,757)
Provision for income taxes	(7)	(21)
Net loss	(12,969)	(80,748)

Source: Anthropic S-1. Table: New Street.[1]

Notes

• All sources accessed Oct. 26, 2026, between 9:24 and 9:29 a.m. ET. Times are US Eastern (EDT, UTC-4).
• Six-month figures are from the S-1’s unaudited interim statements; the annual statements are audited, for 2023 and 2024 by Grant Thornton LLP and for 2025 by Ernst & Young LLP (ref. 1, p. 335). Growth rates checked from the filing’s figures: six-month revenue of $16,286 million against $1,163 million is an increase of 1,300.3%, matching the filing’s 1,300%; 2025 revenue of $4,585 million against $386 million is 1,087.8%, the filing’s 1,088%. CNBC reported 1,304% and 1,089% (ref. 4); New Street uses the filing’s figures. Six-month net loss in the filing’s statement of operations, $ millions: operating loss (693), interest income 1,111, change in fair value of convertible notes, derivative liabilities, and SAFEs (72,388), other income (expense), net (8,757), for a loss before taxes of (80,727); provision for income taxes 21; net loss (80,748) (ref. 1, p. 23). The filing attributes other income (expense), net, “primarily” to “the initial fair value recognition and change in fair value of the assets and liabilities recognized under the note purchase agreements” (p. 151). Exhibit 2 shows 0 where the filing shows no amount for 2025. The 22 underwriters are counted from the S-1 cover; Goldman Sachs & Co. LLC and Morgan Stanley appear first. “First time” rests on the earlier draft registration statements having been submitted confidentially (Form DRS, ref. 3) and on CNBC’s report that the June confidential filing gave the SEC time to review the financials before they were made public (ref. 4). The S-1 states the securities “may not be sold until the registration statement filed with the Securities and Exchange Commission is effective.” Not used because they could not be checked against the filing in time: valuation figures, compute commitment totals and quarterly growth rates reported by outlets. No price range, share count or offering size has been set. Corrections, if any, are logged at newstreet.xyz/corrections.