filed with the Securities and Exchange Commission on Monday

On Monday, Anthropic formally submitted an initial public offering (IPO) paperwork to the Securities and Exchange Commission (SEC), paving the way for one of the most anticipated public market debuts in recent U.S. history. The company, which will trade under the ticker symbol "ANT," reported impressive revenue growth in its latest SEC filing.

For the first half of 2026, Anthropic generated $16.3 billion in revenue, a significant leap from $1.2 billion in the same period last year. However, the company also disclosed a substantial operating loss of $693 million, a marked improvement from the $2.1 billion loss in the first half of 2025.

Despite the revenue growth, Anthropic's net loss widened to $80.7 billion for the first half of 2026, primarily due to noncash accounting adjustments associated with convertible debt. In a statement, Anthropic acknowledged that it "may not achieve or sustain profitability in the future." The IPO filing also shed light on the company's enterprise customer base.

As of September, Anthropic had over 11,900 customers spending at least $100,000 annually, with 1,900 customers committing $1 million or more per year, and approximately 250 customers investing $10 million or more.

Anthropic's governance structure, which will remain intact post-IPO, is an intriguing element of the company's business model. Seven co-founders, including Dario Amodei, Daniela Amodei, Tom Brown, Jack Clark, Jared Kaplan, Sam McCandlish, and Christopher Olah, will retain control through a "Founder LLC," which will own 50.1% of shareholder voting power.

This governance structure is designed to safeguard Anthropic's AI safety mission, as stated by the company in its filing. Anthropic also established a Long-Term Benefit Trust in 2023 to ensure the company stays true to its public benefit mission. The trust will appoint most of the company's board, a design choice that has sparked controversy.

Critics argue that this setup makes voting power disproportionate to founders' economic ownership, potentially leaving public shareholders with little practical control over a company developing technology that, according to Anthropic, could pose "catastrophic or existential risks to humanity." The company has not yet disclosed its intended IPO size or proposed share price.