Anthropic S-1 filing: $16.3B Revenue, $80.7B Loss, Ticker ANT

The Anthropic S-1 filing finally puts real numbers behind the most hyped AI company in the world. Anthropic filed its registration statement with the SEC on Monday, October 26, and said it plans to list Class A shares on the Nasdaq Global Select Market under the ticker "ANT". The prospectus shows $16.3 billion of revenue for the first half of 2026, up from about $1.16 billion a year earlier, and an $80.7 billion net loss that is mostly an accounting charge.

What actually happened

Anthropic's own announcement is short and formal. It filed an S-1 for a proposed initial public offering of Class A common stock. The number of shares and the price range "have not yet been determined". Goldman Sachs and Morgan Stanley are listed as the contacts for the preliminary prospectus. The registration is not yet effective, so no shares can be sold yet.

The filing itself is long and, as Fortune put it, at times surreal. A letter from the cofounders talks about bringing forth "an age of miracles", from curing disease to shorter lines at government offices. The same document warns that advanced AI systems could "take harmful actions independently and at scale" if they are misaligned.

The numbers are the headline. Revenue for the six months to June 30 was $16.286 billion against $1.163 billion a year earlier. Fortune reports that $72.4 billion of the $80.7 billion net loss came from a non-cash charge tied to the rising value of convertible notes. On an adjusted basis, Anthropic says it made $1.6 billion of operating income in the half, about a 10% margin.

Inside the Anthropic S-1 filing

Three details stand out beyond revenue.

Compute efficiency. In the second quarter, Anthropic spent $5.6 billion on compute and generated $11.6 billion of revenue. The company frames that as $2.08 of revenue for every dollar of compute. That is the number bulls will quote most.

Customer concentration. The top five customers made up about 25% of revenue in the first nine months of 2026, and nearly half of revenue flows through cloud marketplaces run by Amazon, Google and Microsoft. Some of those partners also build competing models.

Control. A special class F share gives the founders 50.1% of the voting power. Anthropic had 5,300 employees at the end of September, and power sits firmly with its seven cofounders. Public buyers will own a slice of the economics, not the steering wheel.

Revenue up 14 times in a year buys a lot of forgiveness. The voting structure means buyers will have to forgive a lot.

What Polymarket thinks

The market we track is "Will Anthropic IPO by November 30, 2026?" It sat near 93% Yes at our 06:18 UTC snapshot, with a bid of 92 cents and an ask of 94 cents. Nearby dates show where traders think the listing lands:

• IPO by November 19: about 50%
• IPO by November 20: about 65%
• IPO by December 31: about 95%

Fortune reports the company is expected to target Thanksgiving week, which matches that curve. On valuation, Polymarket's biggest bracket was $1.50 trillion to $1.75 trillion at about 52%, with $1.75 trillion to $2.00 trillion near 34%. We tracked earlier versions of these bets in Anthropic IPO Polymarket December and the run-up in Anthropic Q3 financials.

What to do as a reader

Read the actual prospectus, not just headlines. The SEC copy is public, and the risk factors section is where the company tells you what could go wrong. Pay attention to customer concentration, compute contracts and the share structure.

Ignore anything on-chain using the ANT ticker. The Anthropic S-1 filing covers Nasdaq shares, not a crypto token, and any coin claiming a link is fake. If you want exposure, the route is a regular broker once the stock lists.

On the prediction markets, remember that IPO date brackets resolve on the first trading day, and a one-day slip can flip a bracket. Nothing here is investment advice, and an S-1 is not a guarantee that the IPO happens on schedule.

Sources: Anthropic announcement, SEC S-1 filing, Fortune and Polymarket.