A five-year-old company at the heart of the generative AI boom has formally launched its listing process, and the offering could become a landmark issuance.
Anthropic has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC), planning to list on the Nasdaq under the ticker ANT.
The company behind the Claude large language model filed materials with the SEC in June, giving regulators ample time to review its financial data before disclosing them to the public and potential investors.
Chief Executive Dario Amodei co-founded Anthropic in 2021 after leaving leading rival OpenAI along with a small group of researchers.
The Claude model and related services have won strong favor in the enterprise market, with a large number of companies committing capital in hopes of uncovering new growth opportunities and improving internal operating efficiency.
In 2026, the company's business expansion accelerated sharply, driven mainly by the popularity of AI coding tools and high-performance models such as Claude Mythos and Claude Fable-5.
Anthropic has been striving to catch up with competitors including OpenAI and Google to maintain a competitive edge, while the company has also faced sharp criticism over safety controls, regulatory compliance and national security issues, and has clashed with the U.S. government in two high-profile disputes in recent months.
If the IPO process proceeds without obstruction, it will follow SpaceX's Nasdaq debut. SpaceX set the record for the largest IPO in history, ultimately raising $85.7 billion. However, SpaceX's share price has been volatile, closing last Friday slightly below its June listing opening price.
As it prepares for the listing, Anthropic must contend with widespread anxiety on Wall Street. The market is increasingly questioning whether corporate spending on AI services can support the trillions of dollars in expected infrastructure investment. "Neocloud" providers such as CoreWeave and Nebius have recently struggled, with their shares falling more than 30% in October amid surging bond yields in the data center sector.
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