Artificial intelligence company Anthropic filed papers on Monday for an initial public offering that could become the largest in history. The move comes as its chief executive continues to warn that advanced AI could pose an existential threat to humanity.
The filing puts the San Francisco company on track for a Wall Street debut next month. It could surpass the SpaceX offering in June, which raised a record $86 billion US. If Anthropic lists first, it would also beat OpenAI to the public markets, in what is expected to be a pair of major stock debuts from the rival AI labs.
The filing arrives only weeks after CEO Dario Amodei published an essay arguing for a slowdown in the development of the most advanced AI models.
An offering could give Anthropic vast new resources to expand. The final amount raised, the company's valuation and the share price have not been settled. Even under lower estimates, the five-year-old startup would become one of the world's most valuable companies. The listing could also add billions of dollars to the wealth of Amodei and his sister Daniela, who co-founded the company.
The 335-page document shows that Anthropic's revenue is growing quickly, but like many tech firms heading to the public markets, it has not yet turned a profit. The maker of the Claude chatbot reported a net loss of $80.7 billion US in the first half of 2026, compared with a loss of $13 billion US in the same period a year earlier.
Private investors valued Anthropic at $965 billion US earlier this year. Reports suggest that figure could climb to $1.5 trillion or even $2 trillion, though no final valuation has been established. At $1.5 trillion US, the company would sit among the most valuable publicly traded firms in the world, alongside Tesla.
Reports say the offering could raise as much as $100 billion US, which would top the record set earlier this year by SpaceX, another company tied to Elon Musk.
In its regulatory filing, Anthropic said it plans to list its shares on the Nasdaq Global Select Market under the ticker symbol "ANT."
