Anthropic filed papers Monday, October 26, for what could be the biggest initial public offering (IPO) of stock ever, even as its top executive warns that advanced artificial intelligence could pose an existential threat to humanity.
The filing sets up the San Francisco-based company for a Wall Street debut next month. It could eclipse the SpaceX IPO in June, which raised a record $86 billion.
An Anthropic listing would also put the company ahead of rival OpenAI in going public, in what is expected to be a pair of blockbuster stock debuts for the AI labs. A photo caption in the article says Anthropic is aiming to list on the Nasdaq.
The 335-page document showed that Anthropic’s revenue is growing rapidly but that, like many other tech companies going public, it has yet to turn a profit. The company behind the chatbot Claude reported a net loss of $80.7 billion in the first half of 2026, compared with a loss of $13 billion in the same period a year earlier.
Private investors valued Anthropic at $965 billion earlier this year. The company is reportedly set to see that value rise to $1.5 trillion, or possibly $2 trillion, although its final valuation has not been established. At $1.5 trillion, Anthropic would rank among the world’s most valuable public companies, alongside Tesla.
The offering could bring in as much as $100 billion, according to reports. That would surpass the current record set earlier this year by SpaceX, another of Elon Musk’s companies. The amount Anthropic ultimately raises, its final valuation and its offering price remain uncertain.
Even at lower estimates, the five-year-old startup would become one of the world’s most valuable companies. The listing could also boost the wealth of CEO Dario Amodei and his sister and co-founder, Daniela, by billions of dollars.
The filing emphasised the potential for Anthropic’s AI to “behave in unintended, misaligned, or autonomous ways.” It said that if the company’s technologies are not developed with adequate safeguards and oversight, they could pose catastrophic or existential risks to humanity.
The filing singled out the case where such systems are misused, replicated, weaponised or allowed to operate with a high degree of autonomy.
The filing comes weeks after Dario Amodei argued in an essay for slowing the development of the most advanced AI models. An IPO could provide Anthropic with enormous resources to accelerate its expansion.