San Francisco: Artificial Intelligence (AI) giant Anthropic filed papers on Monday for what could be the biggest Initial Public Offering (IPO) of stock ever, with a potential to raise as much as $100 billion, according to reports.
The document highlights Anthropic's rapid growth over the past year, fueled by Big Tech's breakneck spending that has driven a rally in AI stocks while raising concerns about lofty valuations and rising debt.
The move sets up the San Francisco company for a Wall Street debut next month, potentially eclipsing the SpaceX initial public offering in June that raised a record $86 billion. An Anthropic IPO would also put the company ahead of OpenAI in going public in what is expected to be a pair of blockbuster stock debuts for the rival AI labs.
The amount the company ultimately raises remains uncertain, as do its final valuation and offering price, but even at lower estimates, it would turn the five-year-old startup into one of the world's most valuable companies and potentially boost the wealth of Amodei and his sister and co-founder, Daniela, by billions of dollars.
The prospectus
The prospectus lays out its ambitions to build AI systems capable of transforming the global economy while confronting the costs and challenges of developing the technology.
The document highlights Anthropic's rapid growth over the past year, fueled by Big Tech's breakneck spending that has driven a rally in AI stocks while raising concerns about lofty valuations and rising debt.
The 335-page document showed Anthropic's revenue is growing rapidly, but like many other tech companies going public, it has yet to turn a profit. The company behind the chatbot Claude reported a net loss of $80.7 billion in the first half of 2026. That compares to a loss of $13 billion in the same period a year earlier.
Despite the losses, Anthropic, valued earlier this year at $965 billion by private investors, is reportedly set to see that value rise to $1.5 trillion or possibly $2 trillion, although its final valuation has not been established. At $1.5 trillion, Anthropic would rank among the world's most valuable public companies, alongside Tesla.
The filing comes even as its top executive warns that advanced AI could pose an existential threat to humanity. Anthropic CEO Dario Amodei argued in an essay for slowing the development of the most advanced AI models. An IPO could provide Anthropic with enormous resources to accelerate its expansion.
IPO expected to establish Anthropic as benchmark
The IPO is expected to establish Anthropic, as a benchmark for how Wall Street values leading AI companies, including rival OpenAI.
As for money raised, the offering could raise as much as $100 billion, according to reports, surpassing the current record set by another one of Musk's companies, SpaceX, earlier this year.
In a regulatory filing, Anthropic said it will list its stock on the Nasdaq Global Select Market under the ticker symbol ‘ANT’.
(With inputs from AP via PTI & Reuters)
