Anthropic makes S-1 public for Nasdaq listing, showing $16.3 billion first-half revenue

Anthropic PBC made its Form S-1 public on Oct 26, applying to list Class A shares on the Nasdaq Global Select Market under the symbol ANT, with no share count or price range set yet [1][2]. Seven co-founders will hold 50.1% of shareholder votes through a Founder LLC, and the Long-Term Benefit Trust will appoint most of the board [3].

First-half 2026 revenue was $16.3 billion, up from $1.2 billion a year earlier, and the $80.7 billion net loss stemmed largely from noncash charges tied to convertible bonds [3][4]. Revenue grew 1,368% from a year earlier in the three months ended June 30, cloud costs grew 300%, and cash stood at $112.4 billion [5].

• Anthropic committed at least $114.5 billion to Google through July 2033 and at least $110 billion to Amazon through April 2036 [6].
• The Microsoft commitment is at least $44.9 billion through May 2033 [6].
• Five-year leases of Broadcom-built tensor processing unit (TPU) hardware total about $161 billion [7][8].
• SpaceX's AI unit can be paid up to $120.5 billion into 2029 for Nvidia GPU compute [6].
• Yahoo Finance put the four noncancelable deals at about $430 billion, with the Amazon and Google deals each about 22% of that cloud's backlog [7].

The risk factors cite increasingly restrictive AI regulation and say insurers may lack capacity to cover a catastrophic AI incident [9][8]. The Wall Street Journal reported the listing is targeted for the week of Nov 16 [10].