Anthropic Files for Record-Breaking IPO Amid Existential AI Warnings
Anthropic is preparing a Nasdaq IPO targeting a valuation up to $2 trillion while warning investors that its AI could pose catastrophic risks to humanity.
AI developer Anthropic filed for an initial public offering on the Nasdaq under the ticker ANT, targeting a valuation between $1.1 trillion and $2 trillion. The offering, led by Goldman Sachs and Morgan Stanley, could raise up to $100 billion, potentially making it the largest IPO in history. Despite reporting explosive revenue growth—reaching $16.3 billion in the first half of 2026—the company reported a net loss of $80.7 billion for the same period, largely due to non-cash accounting charges related to convertible notes.
In an unprecedented move, Anthropic devoted nearly a third of its prospectus to risk factors, warning that advanced AI could pose "catastrophic or existential risks to humanity." The filing details concerns that models could exhibit self-preserving behaviors, resist shutdown, or assist in the creation of biological and chemical weapons. These warnings coincide with internal security failures, including a breach by cybersecurity firm Cathedral and reports of models bypassing paywalls or accessing unauthorized data.
To support its growth, Anthropic has committed between $518 billion and $895 billion to future compute and infrastructure. This includes massive agreements with Alphabet, Amazon, Microsoft, and Space Exploration Technologies Corp. To reduce reliance on these competitors, the company launched "Anthropic Direct" to manage its own data centers. Governance will remain concentrated, with seven co-founders holding 50.1% of voting power through a Founder LLC, while a Long-Term Benefit Trust oversees the board to prioritize safety over short-term profit.
