A historic turning point for AI: Anthropic is about to go public with staggering growth

Anthropic, the company behind Claude, is preparing to enter the Wall Street Stock Exchange to sell some of its shares. And with the success of generative artificial intelligence, it could well be a success.A seemingly paradoxical success, since the company loses tens of billions of dollars every six months. Ahead of its IPO, Anthropic shared its listing prospectus, which provides more insight into its financial health.

Extraordinary growth, but with heavy losses

In the first quarter of this year, Anthropic reported revenue of $16.286 billion, compared with $1.1 billion a year earlier. This represents year-on-year growth of approximately… 1,300%. And over the course of 2025, its revenue had reached nearly $4.6 billion, after being multiplied by 12.

While this growth is impressive, it does not come without a cost. Anthropic’s net loss for the first half of 2026 is estimated at $80.75 billion, compared with $13 billion a year earlier. Most of this, or approximately $72 billion, comes from accounting charges related to changes in the value of convertible bonds that had been issued during previous funding rounds. In other words, when Anthropic’s valuation rises, the value of these bonds also rises. This mechanism inflates the net loss, even though it does not actually correspond to money leaving the company’s coffers.

However, the trajectory seems to be improving: Anthropic told potential investors that its third-quarter revenue had increased by 45% compared with the previous quarter.Growth is slowing, but growth is still there. There are still costs that are very difficult to reduce, particularly those associated with computing power. In the first six months of the year, Anthropic spent nearly $9 billion, almost four times as much as it did during the same period last year. In addition, the IPO filing also mentions potential spending of up to $750 billion in the coming years. This is expected to secure greater computing capacity, the lifeblood of the AI battle being waged against OpenAI, Google, and others.

Anthropic’s IPO is shaping up to be historic

By publishing this filing, Anthropic is continuing to prepare for its IPO; it filed its S-1 form with the SEC (the U.S. agency responsible for regulating and overseeing financial markets) on October 26. It is seeking a listing on Nasdaq under the ticker symbol ANT, with an IPO expected in mid-November, just before Thanksgiving. For now, the number of shares to be offered and even the price range remain unknown: Anthropic must specify them in an amendment to be published soon.

As Reuters reports, analysts and investors cite a valuation of between $1.5 trillion and $2 trillion. If these figures are reached, Anthropic would enter the top 10 of the world’s most highly valued companies and could rank ahead of Meta.

This introduction also serves as a test for the valuation of AI companies: if Anthropic succeeds in raising massive funding while reporting substantial losses, Wall Street will validate the idea that revenue growth and technological progress can justify an equally exceptional valuation. However, if the valuation is revised downward, that would send a different signal to the sector, particularly to OpenAI, whose funding needs are comparable.

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Source: BFM Stock Exchange