AI Firm Anthropic Files SEC Prospectus for Nasdaq IPO Targeting Up to $1 Trillion Valuation
Anthropic submits IPO application seeking $64.4 billion raise, with founders retaining control through special shares.
According to a report by German tech outlet heise online, U.S. artificial intelligence company Anthropic has filed an updated prospectus with the U.S. Securities and Exchange Commission (SEC), preparing for an initial public offering (IPO) on the New York Nasdaq exchange. The proposed ticker symbol is "ANT," with shares priced between $70 and $78, aiming for a total valuation of up to $1 trillion. At the upper end of this range, Anthropic and its existing shareholders expect to raise approximately $64.4 billion in gross proceeds.
The prospectus reveals Anthropic's financial trajectory since its commercial launch in Q1 2023: quarterly revenue grew from zero to $17 billion in Q3 2026. This growth was driven primarily by its language model Claude and software assistants like Claude Code and Claude Cowork. However, the document also discloses massive cost commitments: Anthropic has entered into long-term chip procurement and data center lease agreements totaling approximately $900.9 billion with partners including Amazon AWS, Google, and Nvidia.
A notable feature of this IPO is its unique governance structure. Anthropic is organized as a public benefit corporation, requiring management to balance profits with ethical standards and technology safety. While public investors will have full economic rights, co-founders Dario Amodei and Daniela Amodei retain over 50% voting power in all decisions except specific matters through special class shares. Additionally, an independent board of trustees holds majority decision-making power regarding board seats.
Several major tech companies, including Nvidia, Microsoft, Google, AMD, Broadcom, Micron Technology, and TSMC, have committed to purchasing $26 billion worth of shares directly from Anthropic during the IPO. These shares carry no voting rights. Market speculation had previously suggested a valuation of up to $2 trillion, but the final target was lowered due to cooling global AI investment sentiment and recent industry volatility.