Anthropic revenue tops $16 billion in half-year as IPO registration is filed
Key Facts
Anthropic filed a registration statement with the U.S. Securities and Exchange Commission on October 26 for a proposed initial public offering, disclosing revenue of more than $16 billion in the first half of 2026. The company said revenue was 14 times its level in the same period a year earlier, putting business performance at the forefront of its financial profile ahead of a potential listing. The filing gives investors a view of the company’s figures as it begins its path toward the public markets, but it does not mean the offering is complete or that a date has been set. Anthropic has not disclosed how many shares it will offer or a proposed price range. The registration statement has also not yet become effective.
According to Anthropic’s filing, the company plans to list its Class A shares on the Nasdaq Global Select Market under the symbol “ANT.” The disclosure, by itself, does not specify when trading will begin or the final size of the offering. The move follows a sharp acceleration in annual revenue, which rose from $41 million in 2023 to $386 million in 2024, then to $4.585 billion in 2025, according to figures in the registration document. The trajectory reflects a widening revenue base over three years, ahead of the jump recorded in the first half of 2026. The disclosure therefore allows investors to compare half-year growth with an annual base that had already climbed in 2025.
But revenue growth came alongside a net loss of $80.7 billion in the first half of 2026, compared with a loss of $13 billion in the same period of 2025, according to the Associated Press. The agency said the loss included a one-time accounting adjustment of $72.4 billion tied to financing agreements. That means the adjustment accounted for a large part of the reported loss, while remaining an accounting item related to financing rather than a description of operating expenses. The figures also show a widening gap between revenue growth and the bottom line during the period. The offering filing therefore presents two different measures of the company’s performance: rapid sales expansion and a huge half-year loss.
Anthropic reported revenue of $4.731 billion in the first quarter of 2026, rising to $11.555 billion in the second quarter, according to a reading of the registration document. The sequence puts second-quarter revenue far above the first quarter and shows that a large share of first-half revenue was generated in its final three months. Alongside the 14-fold annual comparison, the quarterly figures offer a picture of how quickly revenue changed during the year. That development coincided with the loss and accounting adjustment recorded over the same period. The financial disclosure will allow investors to assess these measures as part of the proposed offering.
In markets, the Nasdaq Composite rose 0.8% and the S&P 500 gained 0.7% at Monday’s close on October 26, according to the Associated Press. Nvidia shares rose 2.4%, recovering some losses after three consecutive weeks of declines, its longest weekly losing streak since June. In Monday trading, Reuters said Nvidia rose nearly 3%, while Microsoft and Amazon each gained about 1%. The Philadelphia Semiconductor Index rose 2.9%, alongside gains in chip and artificial-intelligence-related stocks after Anthropic’s filing. The various indexes and stocks reflected session gains as reported by the sources, with Nvidia’s moves differing between the closing report and coverage of trading.
The sector’s share gains coincided with investor concerns about the borrowing costs needed to finance data centers and buy artificial-intelligence chips, according to the Associated Press. The concern puts financing alongside growth in the assessment of companies building computing capacity and expanding infrastructure. The scale of the loss and the adjustment tied to financing agreements in Anthropic’s disclosure also make those figures ones investors are watching as they review its results. In this context, chip stocks stand out as part of the market rally that accompanied the filing, with Nvidia and the semiconductor index rising in the same session. The disclosure of revenue and losses gives investors new material to compare with their focus on the cost of financing infrastructure. Pricing details and the number of shares remain unresolved elements of the proposed offering.
Investors are awaiting results from major companies this week. Alphabet and Microsoft were scheduled to report quarterly results on Wednesday, followed by Amazon on Thursday, with about a third of S&P 500 companies set to report during the week. The Federal Reserve meets on October 27 and 28, with its chair scheduled to hold a news conference on October 28. The broad expectation, according to the Associated Press, was that the committee would leave interest rates unchanged on Wednesday after raising them at its previous meeting. On September 16, the committee raised its target range by a quarter percentage point to 3.75%-4%. These events follow directly after Anthropic’s filing, as the market awaits company results and the interest-rate decision in the coming days.