Anthropic, the San Francisco company behind the Claude AI models, has filed to go public. Its prospectus with the U.S. Securities and Exchange Commission says it has applied to list on the Nasdaq under the symbol ANT. It hasn’t set a share price or said how much it will raise.

All figures below are in U.S. dollars, as in the filing.

The numbers

  • Revenue: $16.3 billion (about $22.8 billion CAD) in the first half of 2026, up from $1.2 billion a year earlier. Anthropic says it doesn’t expect that growth rate to continue.
  • Operating loss: $693 million, down from $2.1 billion.
  • Net loss: $80.7 billion for the half. Most of that, $72.4 billion, is an accounting charge for the rising value of convertible notes and similar instruments, not cash spent.
  • Customers: more than 11,900 paying at least $100,000 a year, up from more than 950 a year earlier.

The filing says Anthropic “may not achieve or sustain profitability.”

Who’s in control

Public shareholders won’t run the company. A Founder LLC made up of its seven co-founders will hold 50.1% of the votes on most matters, and a Long-Term Benefit Trust can elect a majority of the board. That makes Anthropic a “controlled company” under Nasdaq rules. Separately, the risk factors warn that sufficiently advanced AI could pose “catastrophic or existential risks to humanity.”

The Canadian angle

  • You may be able to buy in. The offering includes a public offering in Canada, though Anthropic doesn’t plan to list on a Canadian exchange. RBC Capital Markets, BMO Capital Markets and TD Securities are among the underwriters.
  • Four Canadian copyright suits. The filing lists two proposed class actions for authors in B.C. and Quebec, a suit from La Presse, and this month’s claim from a group of Canadian news publishers in Ontario (our story). Anthropic disputes all of them.
  • Data centres here. It says it has leased data centre capacity in Canada and Australia.

Why it matters: Because the offering includes Canada, Canadian investors may be able to get shares through dealers here, not only once trading starts. Pricing and allocations aren’t set yet. Anyone considering it should read the governance and risk sections first: public buyers get the economics, but little say.