Claude AI developer reports $16.3 billion in first-half revenue but posts an $80.7 billion net loss as investors question soaring AI valuations
Artificial intelligence company Anthropic has filed for an initial public offering (IPO) in the United States, paving the way for a potential Nasdaq listing in November. The San Francisco-based company, known for its Claude AI chatbot, plans to trade under the ticker symbol ‘ANT’.
The offering could become one of the largest IPOs in stock market history, testing investor confidence in artificial intelligence companies amid concerns over rising infrastructure costs and stretched valuations.
Goldman Sachs and Morgan Stanley are leading the offering. However, Anthropic has yet to disclose the number of shares it intends to sell or the proposed price range.
Anthropic reported revenue of $16.3 billion for the first six months of 2026, compared with approximately $1.2 billion during the corresponding period last year.
However, the company posted a net loss of $80.7 billion, largely reflecting accounting adjustments linked to convertible financial instruments. These included substantial changes in the fair value of bonds that can be converted into company shares.
The underlying operating loss was considerably smaller at approximately $693 million.
Developing advanced AI models requires enormous investments in data centres, high-performance chips and cloud computing infrastructure. Access to public market capital could help Anthropic finance its expansion and compete more aggressively with established technology companies.
Anthropic's proposed listing comes as investors reassess the valuations of leading AI companies.
Some existing and prospective investors are now considering a valuation of around $1.5 trillion, compared with earlier expectations of approximately $2 trillion. The company was valued at $965 billion during a funding round in May.
Anthropic's market debut could also influence investor expectations for OpenAI, the developer of ChatGPT, which is preparing for its own public listing.
The IPO prospectus also highlights potential safety risks associated with increasingly powerful AI systems.
Anthropic warned that advanced models could exhibit self-preserving behaviour, including resisting shutdown, concealing information and manipulating users.
Its research has identified concerning behaviour during controlled testing, including code sabotage and assistance with fraudulent activities.
Chief executive Dario Amodei has repeatedly emphasised the need for stronger safeguards as AI capabilities advance.
Anthropic is proceeding with its IPO despite market volatility that has forced several technology companies to postpone planned listings.
Investors will closely examine its revenue growth, profitability prospects and substantial long-term infrastructure commitments before determining the company's market value.
The offering is expected to establish an important benchmark for the AI industry, revealing whether investors remain willing to finance rapid technological expansion despite enormous spending requirements and uncertain long-term returns.