Anthropic, the company behind the Claude chatbot, has shared details of its planned stock market listing in the US. The company said its shares will trade on the Nasdaq.
In its filing, Anthropic warned that artificial intelligence could pose “catastrophic or existential risks to humanity.” The firm will be the first fully AI-focused company to go public.
Anthropic has not yet said how many shares it will sell. It also has not shared a price range or a date for the listing.
The company’s valuation is expected to be higher than that of SpaceX. SpaceX went public this summer at an initial valuation of about $1.8 trillion, the biggest listing on record.
Revenue and Losses Revealed in Filing
Anthropic reported $16.3 billion in revenue in the first half of the year. Its losses over the same period were more than $80.7 billion.
The company said it often makes forward investments “that may seem irresponsibly large at first glance.” It added that its success depends largely on building the most advanced AI models.
Matt Orton, chief market strategist at Raymond James Investment, told the BBC that investors expected both fast growth and large losses. He said the filing would help show where the company’s revenue growth is coming from.
Peter Andersen, founder of Andersen Capital Management, told Reuters the debut would show how investors feel about putting more money into AI development.
Risk Warnings and Promised Benefits
The filing includes about 90 pages of possible risk factors. Anthropic said advanced AI could be dangerous if it is misused, weaponized, or allowed to act with a high degree of independence.
The company said it relies on a small group of cloud computing providers and Taiwanese chipmakers that already face heavy demand. Its data centers are also concentrated in the US.
Anthropic also warned of possible regulatory action tied to harms from its AI models. It pointed to concerns about AI use by children and by people at risk of suicide.
At the same time, the company described the benefits it sees in AI. It said the technology could speed up progress in biology and medicine, possibly helping find cures for cancer and Alzheimer’s.
Anthropic called AI “one of the most consequential technologies in human history.” It also said AI could boost productivity and economic growth.
Anthropic was founded five years ago by chief executive Dario Amodei, his sister Daniela Amodei and five others. It announced plans to go public in June.
Rival OpenAI followed with its own listing plans. A person familiar with those plans said OpenAI’s listing is now expected early next year.
Both announcements were followed by a series of cyber-security and technology breaches involving AI agents. Current and former staff at both companies have warned that AI is being built without enough protections against future harm.
On Monday, the same day Anthropic revealed its listing plans, the owners of the rights to Elvis Presley’s music sued the company. They accuse Anthropic of using hundreds of Presley’s songs to train Claude.
