Anthropic files for IPO; applied to list Class A common stock on Nasdaq Global select market under the symbol 'ANT'

IPO: Says Goldman Sachs (GS), Morgan Stanley (MS), JPMorgan (JPM) and Citigroup (C) are the underwriters for its IPO. Dario Amodei, Daniela Amodei, Tom Brown, Jack Clark, Jared Kaplan, Sam McCandlish and Chris Olah will initially be the sole members of the Founder LLC. To have shares of Class A, Class F, Class E, Class T and Class N stock. Recorded a USD 1.5bln charge in Q3 2025 to settle the Bartz litigation. Barclays (BARC LN), Wells Fargo (WFC), BofA (BAC) and Deutsche Bank (DBK GY) are also underwriters for its IPO. Board has approved a framework to issue up to an additional 2% in Class N shares to its public benefit fund for each 50% rise in the share price. H1 RESULTS: Revenue USD 16.3bln (prev. USD 1.2bln Y/Y). Net loss USD 80.77bln. Operating cash flow USD 3.9bn in H1. Gross margin 85% (prev. 40% in FY25). COMMENTARY: May be required to seek additional financing sooner than currently anticipated. Expects compute and infrastructure expenses to keep rising in absolute terms and to remain its largest operating expense for the foreseeable future. METRICS: An estimated 5–7% of revenue in the first 9 months of 2026 came from customers breaching Anthropic's usage policy or commercial terms. Enforcement was stepped up in August and September. 48% of H1 revenue was billed through Amazon (AMZN), Google (GOOGL) and Microsoft's (MSFT) marketplaces. Contracted backlog USD 10.8bln at June 30th, about 75% due within 12 months. Over 11,900 customers pay USD 100k+ a year, over 1,900 pay USD 1m+ and about 250 pay USD 10m+. AGREEMENTS: Anthropic has agreed to spend up to USD 120.5bln in aggregate under its SpaceXAI arrangements, over terms extending into 2029. Google Cloud (GOOGL) commitment of at least USD 114.5bln through 2033. Broadcom (AVGO) is the biggest single commitment: about USD 161.2bln of rent over five-year equipment leases for TPU compute, plus a USD 42bn convertible note facility that can only be used to pay that rent. AWS (AMZN) commitment of at least USD 110bln through April 2036. Azure (MSFT) commitment of at least USD 44.9bln, through May 2033.