Artificial intelligence giant Anthropic PBC filed papers today for an initial public offering with the United States Securities and Exchange Commission, putting it on track for what will likely be the biggest stock market debut of an AI developer to come, amid warnings about advanced AI.

In its filing, Anthropic said it plans to list on Nasdaq under the ticker symbol “ANT.”

The IPO will arrive shortly after rival AI firm Elon Musk’s Space Exploration Technologies Corp. filed its June IPO, which raised over $86 billion after opening. An Anthropic IPO could potentially eclipse the SpaceX offering and may even place the company ahead of OpenAI Group PBC, which is expected to debut sometime in 2027.

The filing comes on the heels of Chief Executive Dario Amodei asking the industry to “slow down” AI development for humanity’s safety in September. He couched his language not as a halt, but as a request for safety and concern about the pace of development. Since then, AI models developed by leading model developers, especially OpenAI, have repeatedly broken out of their own sandbox environments, hacked into outside systems, or shown anomalous or uncontrolled behaviors. Not a week goes by without further revelations of new developments and questions about AI safety, ethics and reported model or AI agent hacking incidents.

“Our success depends in large part on our ability to continue to develop the most advanced and capable AI models, and any failure to do so could adversely affect our business,” the company said in the prospectus.

Anthropic, best known for its Claude models and the Mythos model, which upended the cybersecurity industry in June, last raised $65 billion in funding in May at a $965 billion valuation. Recent valuations put Anthropic at $1.5 trillion, down from $2 trillion, after the company revealed data at a recent investor event, Reuters reported. Although reduced, that valuation still places the company among the world’s most valuable companies, such as Tesla Inc.

According to the filing, the company’s revenue has grown rapidly, but it has yet to turn a profit. As recently as 2025, the company generated $1.16 billion in revenue over the first six months. In the first half of this year, Anthropic raked in $16.3 billion in revenue. The company told investors in mid-October that it raised third-quarter revenue to $16.8 billion, a solid jump over its mid-term revenue.

It has reported a net loss of $80.7 billion in the first half of 2026, compared to a loss of $13 billion in the same period a year earlier.

The company remains in a breakneck rivalry with OpenAI after the company released its GPT-6 Astra and GPT-6.1 Sol model families. Chinese open source models similarly keep up in reasoning and

The IPO filing could raise as much as $100 billion, according to reports, surpassing even the current record set by SpaceX earlier this year. Anthropic is the first pure-play AI company to publicly file its S-1 in the US, which will likely set expectations for market watchers, especially with OpenAI’s IPO reportedly arriving sometime in 2027.

Image: Anthropic