Anthropic (ANT Proposed) pulled back the curtain on its IPO by filing its long-awaited S-1 this morning – Monday, Oct. 26, 2026. The San Francisco-based AI company, known for Claude, did not disclose the terms for its IPO in its S-1 filing. The IPO pros expect that Anthropic’s IPO could raise about $75 billion – on par with SpaceX’s historic IPO – or possibly more. Reuters reported that Anthropic’s market cap is likely to be around $1.5 trillion, when it goes public. Anthropic is expected to start marketing its IPO as soon as the week of Nov. 9, according to Bloomberg.
Goldman Sachs and Morgan Stanley are the lead global book-runners of Anthropic’s IPO – running an investment banking syndicate that includes another 20 banks.
J.P. Morgan, Citigroup, Barclays, Wells Fargo Securities, BofA Securities, Deutsche Bank Securities, RBC Capital Markets and UBS Investment Bank are among the joint book-runners, according to the prospectus.
Anthropic, founded in 2021, launched its first commercial product, Claude, publicly in the first quarter of 2023, according to the prospectus.
As of Sept. 30, 2026, Anthropic’s customer base includes – according to its S-1 filing:
•More than 11,900 customers with $100,000 or more of revenue on a TTM basis;
•More than 1,900 customers with $1 million or more of revenue on a TTM basis
*About 250 customers with $10 million or more of revenue on a TTM basis.
In the S-1 filing, Anthropic warned that its technology carried existential risks, as Bloomberg reported.
“As of June 30, 2026, we had raised an aggregate of $141.1 billion of capital,” the prospectus said.
Anthropic is not profitable, according to its S-1 filing: Net loss of $109.74 billion on revenue of $19.7 billion for the 12 months that ended on June 30, 2026.