Anthropic IPO: what we know, blanks included
Anthropic, the company behind Claude, wants to sell its shares on the stock market. Here are the basics, taken only from its own filings, with the empty boxes left empty. I'd rather show you a hole than fill it with a guess.
Filings read on EDGAR, the public database of the SEC (the US stock-market regulator), on 03/11/2026 at 19:35 UTC: the S-1 of 26/10/2026 and its amendment, the S-1/A, of 02/11/2026.
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What is the ticker?
"ANT". The amended filing says Anthropic has "applied to list our Class A common stock on the Nasdaq Global Select Market under the symbol "ANT."". The first filing already had the same sentence. Class A shares are the ones offered to the public, with one vote per share.
Where will it list?
On the Nasdaq Global Select Market, a tier of the Nasdaq, a US stock exchange. Goldman Sachs and Morgan Stanley are the "representatives of the underwriters", the banks that run the sale. Anthropic also expects part of the shares to be offered to individuals through online brokers, including Charles Schwab, Fidelity, Robinhood, SoFi and E*TRADE from Morgan Stanley.
When did Anthropic file?
Two public filings, each with its accession number (its ID on EDGAR):
- the S-1, the registration statement for the listing: filed on 26/10/2026, accepted at 13:00:11 UTC, no. 0001628280-26-067168;
- the S-1/A, "Amendment No. 1" to the S-1: filed on 02/11/2026, accepted at 14:24:24 UTC, no. 0001628280-26-068676.
EDGAR also lists a draft registration statement (form DRS) dated 01/06/2026 and five amended drafts, the last one dated 09/10/2026. I haven't opened those drafts: this page sticks to the S-1 and the S-1/A.
What do the numbers say?
From the S-1/A, for the third quarter of 2026 (July to September), figures the filing labels unaudited:
- revenue, the money from sales: $16.956 billion, against $11.555 billion in the second quarter (April to June);
- operating result, sales minus running costs: a $567 million loss, against a $974 million profit in the second quarter;
- net loss, everything included, debt revaluations among it: $23.291 billion over the third quarter;
- cash on 30/09/2026: $95.6 billion, plus $36.3 billion of short-term investments;
- commitments, signed contracts mostly for compute and infrastructure, as of and after 30/09/2026: about $895.4 billion in total.
The gap between a $567 million loss and a $23 billion one is explained in my S-1/A article; the whole first filing is in my S-1 article.
What is still missing?
In the S-1/A, these boxes are still blank:
- the price range: "between $ and $", not in the filing yet;
- the number of shares sold by Anthropic and by the selling stockholders: not in the filing yet;
- the date: shares delivered "on or about" a blank date; the listing date is not in the filing yet;
- the money raised: net proceeds of "approximately $", blank;
- Run-Rate Revenue (an annualized estimate of sales) as of 31/10/2026: blank.
Valuation: not in the filing yet. Without a price and a share count, there is nothing to multiply, and I'm not borrowing a number from the press.
What happens next?
The cover page says the sale to the public starts "as soon as practicable after this registration statement becomes effective" and that the shares "may not be sold until" then. Effectiveness waits for "a further amendment" saying so, or for a date set by the SEC. At my reading, EDGAR lists nothing newer than the S-1/A: no second amendment, no other form of any kind. My highlighter is ready for the next one.
Source passages
Documents read on 03/11/2026 at 19:35 UTC. Line numbers refer to the archived copy of each document.
Show the 12 sources
| Ref. | Quote (original language) | URL |
|---|---|---|
| S1↑1↑2↑3↑4↑5 | EDGAR list for Anthropic, PBC (CIK 0002130357): S-1/A 2026-11-02, accepted 2026-11-02T14:24:24Z, 0001628280-26-068676 ; S-1 2026-10-26, accepted 2026-10-26T13:00:11Z, 0001628280-26-067168 ; DRS/A 2026-10-09, 2026-10-01, 2026-09-04, 2026-08-10, 2026-07-13 ; DRS 2026-06-01 ; no other form listed | https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=2130357 |
| S2↑1↑2↑3↑4↑5↑6 | "We have applied to list our Class A common stock on the Nasdaq Global Select Market under the symbol "ANT."" ; "It is currently estimated that the initial public offering price per share will be between $ and $" ; "We are selling shares of Class A common stock and the selling stockholders identified in this prospectus are selling an additional shares" (numbers blank) ; "The underwriters expect to deliver the shares against payment in New York, New York, on or about ." ; "Each share of Class A common stock is entitled to one vote" ; "This is an initial public offering of shares of Class A common stock of Anthropic, PBC." | https://www.sec.gov/Archives/edgar/data/2130357/000162828026068676/anthropicpbc-sx1ax1.htm |
| S3↑ | "AMENDMENT NO. 1 TO FORM S-1" ; index: Filing Date 2026-11-02, Accepted 2026-11-02 09:24:24 (US Eastern time, UTC−5) | https://www.sec.gov/Archives/edgar/data/2130357/000162828026068676/0001628280-26-068676-index.htm |
| S4↑1↑2 | "As filed with the Securities and Exchange Commission on October 26, 2026." ; "symbol "ANT."" ; index: Filing Date 2026-10-26, Accepted 2026-10-26 09:00:11 (US Eastern time, UTC−4) | https://www.sec.gov/Archives/edgar/data/2130357/000162828026067168/anthropicpbc-sx1.htm |
| S5↑1↑2 | "The following table sets forth our unaudited quarterly consolidated statements of operations data" ; Revenue 11,555 (three months ended June 30, 2026), 16,956 (three months ended September 30, 2026), in millions | same as S2 |
| S6↑ | "Our operating loss was $567 million for the three months ended September 30, 2026, compared to an operating income of $974 million for the three months ended June 30, 2026" | same as S2 |
| S7↑ | Net loss (23,291), three months ended September 30, 2026, in millions ; Change in fair value of convertible notes, derivative liabilities, and SAFEs (21,936), same quarter (detailed in our S-1/A article) | same as S2 |
| S8↑ | "As of September 30, 2026, we had raised an aggregate of $141.1 billion of capital and had cash and cash equivalents of $95.6 billion and short-term investments of $36.3 billion" | same as S2 |
| S9↑ | "As of and subsequent to September 30, 2026, we have entered into purchase commitments and lease agreements, including short-term commitments, as well as leases not yet commenced, with an aggregate committed spend of approximately $895.4 billion, substantially all of which is related to compute and infrastructure" | same as S2 |
| S10↑1↑2 | "Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are the representatives of the underwriters" ; "we anticipate that a portion of the shares of Class A common stock offered hereby will, at our request, be offered to retail investors through Charles Schwab & Co., Inc., Fidelity Brokerage Services LLC […], Robinhood Financial, LLC, Trade-PMR, Inc., SoFi Securities LLC, and E*TRADE from Morgan Stanley" | same as S2 |
| S11↑1↑2 | "We estimate that the net proceeds from the sale of shares of our Class A common stock by us in this offering will be approximately $" (blank) ; "our Run-Rate Revenue was $ as of October 31, 2026" (blank) ; "“Run-Rate Revenue” is an operating metric that refers to the estimated annualized value of our revenue-generating activity as of a measurement date" | same as S2 |
| S12↑1↑2 | "Approximate date of commencement of proposed sale to the public: As soon as practicable after this registration statement becomes effective." ; "These securities may not be sold until the registration statement filed with the Securities and Exchange Commission is effective" ; "to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective […] or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine" | same as S2 |
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