Anthropic正式踏上上市之路。这家成立仅五年、身处生成式AI浪潮核心的企业，本次IPO有望创下历史纪录。Anthropic在提交给美国证券交易委员会（SEC）的文件中披露，计划登陆纳斯达克交易所，股票代码定为“ANT”，目标在11月16日当周进行IPO。
该IPO由高盛和摩根士丹利牵头，承销行包括美国银行、德意志银行、加拿大皇家银行、瑞银集团、摩根大通、花旗、蒙特利尔银行、法国巴黎银行、法国农业信贷银行和杰富瑞。
该公司将设立T类特殊股票，供T类董事持有。
在招股书中，该公司披露，上半年营收162.9亿美元，上年同期为11.6亿美元；净亏损807.5亿美元，上年同期为129.7亿美元；营业亏损6.93亿美元，上年同期为21.4亿美元
该公司透露，资本支出将大幅增加，可能需要比目前预期更早地寻求额外融资；在可预见的未来不会支付任何股息，且目前未就重大收购达成任何协议；可能发行总额最高达420亿美元的可转换本票。
董事会批准了一项框架，规定每当股价上涨50%时，即可向公益基金增发最多相当于总股本2%的N类股份。
截至9月30日的九个月内，该公司没有任何单一客户占公司营收的10%以上。79%的收入来自前五大客户以外的客户。
合作方面，根据与SpaceX AI的协议，该公司同意在截至2029年的期限内累计支出高达1205亿美元。
Anthropic将在2033年前向谷歌支出至多约1145亿美元，且谷歌购买了3860万股G-2无投票权可赎回股票。
该公司将在2036年前向亚马逊支出至少1100亿美元。根据4月协议，亚马逊将提供高达200亿美元融资。
根据博通租赁安排，该公司在租赁期内支付的租金总额（不含利息）约为1612亿美元。
Anthropic在招股书中提到，有人担忧，若缺乏适当监管，先进人工智能系统可能对人类构成灾难性或生存性风险。该公司打算将相当一部分资源用于确保前沿人工智能的安全，并使其惠及广泛人群。
根据该公司预计，计算和基础设施费用按绝对金额计算将增加，并在可预见的未来仍将是其最大的运营支出。随着AI系统实现AI研发自动化，风险将会增加。
Anthropic首席执行官达里奥·阿莫代伊2021年联合创办公司，当时他和一小批研究员从如今的头号对手OpenAI出走。Anthropic的Claude系列模型与服务受到企业界追捧，大量企业投入资金，希望借此挖掘新增长机会、提升内部运营效率。
2026年，公司扩张步伐明显提速，主要得益于AI代码工具Claude Code的走红，以及Claude Fable 5、Mythos 5等高性能模型。Anthropic一直在奋力保住相对于OpenAI、谷歌等对手的竞争优势；同时它在AI安全、监管、国家安全议题上的立场饱受抨击，近几个月还和美国政府爆发两起广受关注的纠纷。
如果本次上市进程顺利推进、没有中途受阻，它的挂牌时间将紧接在马斯克旗下SpaceX登陆纳斯达克之后。SpaceX的IPO是史上规模最大的一单，最终募资857亿美元，不过该股上市后股价波动剧烈，上周五收盘价已经略低于6月上市首日开盘价。
在筹备上市的当下，Anthropic还要面对华尔街浓厚的恐慌情绪：市场越来越怀疑，AI服务带来的收入，能否撑起数万亿美元规模的基建投入预期。CoreWeave、Nebius这类“新云厂商（neocloud）”近期遭遇重挫，受数据中心行业整体信贷风险上升影响，10月市值跌幅超30%。
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Anthropic is officially on the market. This is a five-year-old company at the heart of the generation of AI waves, and it is hoped that the IPO will have a record. Anthropic disclosed in a document submitted to the United States Securities and Exchange Commission (SEC) that it planned to land on NASDAQ and that the stock code was set as “ANT” and that the target was IPO on the week of 16 November.
The IPO is led by Goldman Sachs and Morgan Stanley, and its sales include Bank of America, Deutsche Bank, Royal Bank of Canada, Swiss Bank, Morgan Chase, Citi, Bank of Montreal, Bank of Paris, Bank of Agricultural Credit France and Jeffrey.
It will establish special T-type shares for T-class directors.
In the equity book, the company disclosed a profit of $16.29 billion for the first half of the year compared to $1.16 billion for the same period the previous year; a net loss of $80.75 billion compared to $12.97 billion for the same period the previous year; and an operating deficit of $693 million compared to $2.14 billion for the same period the previous year. Dollar
The company revealed that capital expenditure would increase significantly and that additional financing might need to be sought earlier than currently anticipated; that no dividends would be paid in the foreseeable future and no agreement had been reached on major acquisitions; and that a total of $42 billion in convertible promissory notes might be issued.
The Board approved a framework providing for an increase of up to 2 per cent of total equity shares in category N to be awarded to public benefit funds whenever the equity price increases by 50 per cent.
In the nine-month period as at 30 September, no single customer of the company accounted for more than 10 per cent of the company's receipts. Seventy-nine per cent of the income came from clients other than the top five.
On the cooperation side, under an agreement with SpaceX AI, the company agreed to aggregate expenditure of up to $12.5 billion over the period up to 2029.
Anthropic will spend up to $114.5 billion on Google by 2033, and Google purchased 38.6 million shares of G-2 unvoting foreclosable shares.
The company will spend at least $110 billion on the Amazon by 2036. Under the April agreement, Amazon would provide up to $20 billion in financing.
Under the Chase lease arrangement, the total rent (without interest) paid by the company during the lease period was approximately $161.2 billion.
In its equity book, Anthropic referred to concerns that, in the absence of proper regulation, advanced artificial intelligence systems could pose catastrophic or existential risks to humanity. The company intends to devote a significant portion of its resources to ensuring the safety of front-line artificial intelligence and to making it accessible to a wide range of people.
According to the company, computing and infrastructure costs are expected to increase in absolute terms and will remain its largest operating expenditure for the foreseeable future. As the AI system automates AI R & D, the risks will increase.
Chief Executive Officer Anthropic, Dario Amodei, co-founder of the company in 2021, when he and a small group of researchers left today ' s number one rival, Open AI. The Claude series of models and services in Anthropic have been embraced by the business community, and a large number of businesses have invested in it in order to tap new growth opportunities and improve internal operating efficiency.
In 2026, the pace of company expansion was markedly accelerated, thanks mainly to the red light of the AI code tool Claude Code and high performance models such as Claude Fable 5 and Mythos 5. Anthropic has been struggling to preserve its competitive edge over rivals such as Open AI, Google, while its position on security, regulation, and national security issues in AI has been criticized, and two high-profile disputes with the United States Government have erupted in recent months.
If the process of listing progresses smoothly and is not blocked, it will be placed immediately after SpaceX has landed in NASDAQ under the Mask flag. SpaceX’s IPO was the largest ever, with a final raise of $85.7 billion, although the unit’s stock prices fluctuated sharply after listing, and last Friday’s closing prices were slightly lower than the first day of the market in June.
Anthropic is also facing a great deal of panic on Wall Street in preparation for listing: the market is increasingly sceptical as to whether the revenues generated by AI services can sustain the trillion-dollar capital investment expectations. “neocloud” such as CoreWeave and Nebius have recently suffered a serious setback, affected by the overall rise in credit risk in the data centre industry, with market value falling by over 30 per cent in October.
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