Anthropic Files for Nasdaq IPO, Sparks Market Buzz
Anthropic has filed for a Nasdaq IPO under the ticker ANT, revealing massive revenue growth and sparking immense market anticipation as it potentially targets a valuation exceeding Bitcoin.
Anthropic, the developer behind the Claude AI models, submitted its public IPO paperwork to the SEC on Monday, October 26. The company applied to trade Class A shares on the Nasdaq Global Select Market under the ticker symbol “ANT”. While the filing omits a specific price range, it has the potential to become the largest stock market debut in history, backed by striking financial figures.
According to the S-1 prospectus, Anthropic generated $16.3 billion in revenue during the first half of 2026, marking a substantial increase from the $1.2 billion reported during the same period a year prior. Concurrently, prediction markets indicate a 74.5% probability that Anthropic’s market capitalization will exceed that of Bitcoin by the close of the year. This overview examines the details revealed in the S-1 and assesses the potential implications of such a massive listing for the cryptocurrency sector.
Anthropic has filed an S-1 registration statement with the SEC related to its proposed IPO.
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The documentation highlights a business expanding at a faster pace than its losses. Revenue grew from $4.6 billion for the entirety of 2025 to $16.3 billion in just the first six months of 2026, representing a fourteen-fold surge compared to the corresponding period a year earlier.
Although the headline net loss appears steep at $80.7 billion for the half-year, $72.4 billion of that amount stems from a non-cash charge driven by the increasing fair value of convertible notes and SAFEs granted to early investors as the company’s valuation grew. Meanwhile, the actual operating loss—representing the operational expenses of the business itself—shrank to $693 million, down from $2.1 billion year-over-year.
Goldman Sachs, Morgan Stanley, and J.P. Morgan are leading a group of 22 underwriters. Details regarding the price range, total share count, and capital raise size will be provided in a subsequent amendment.
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Who Will Control Anthropic After the IPO?
General public shareholders will not maintain control. Buyers of the public offering will receive Class A stock carrying one vote per share, whereas a single Class F share—controlled by an entity owned by the seven co-founders, including CEO Dario Amodei and President Daniela Amodei—retains 50.1% of the total voting power.
Additionally, a separate entity known as the Long-Term Benefit Trust will elect a board majority via its own Class T share. Under Nasdaq guidelines, Anthropic will also operate as a “controlled company.” As a public benefit corporation, it is legally required to balance its commitment to safe AI development with financial returns for shareholders, and it has already allocated 5% of its shares into a newly established Public Benefit Fund.
Trading is widely anticipated to begin in November. On Polymarket, traders assign an 83.5% chance that the stock begins trading prior to November 30, and roughly a 50% chance for a debut by November 20.
Anthropic IPO by __?
Valuation remains the central point of interest. Anthropic’s private valuation reached $965 billion during its $65 billion Series H funding round in May. Polymarket’s most heavily favored IPO valuation bracket currently sits between $1.5 trillion and $1.75 trillion (backed by a 58% probability), nearly double its private valuation achieved just five months prior.
Could Anthropic Be Worth More Than Bitcoin?
The market suggests it is possible. Bitcoin’s market capitalization sits at approximately $1.61 trillion with a price of $80,100, while Polymarket assigns a 74.5% likelihood that Anthropic surpasses that valuation by December 31. Traders are placing the highest probability on a first-day closing valuation between $1.75 trillion and $2 trillion.
Within the crypto ecosystem, the filing produced little immediate market reaction. Bitcoin dipped 0.3% on the day, and AI-related tokens showed minimal movement, with Bittensor’s TAO gaining 1.2% and Render rising 2.2%. However, potential risks may emerge later. An equity offering of this magnitude will require significant capital, and growth investors who currently hold Bitcoin and AI assets might liquidate portions of those holdings to fund purchases of ANT.
Bitcoin continues to trade just underneath its 50-day EMA at $80,801. Overhead resistance is established at $82,850—where upward price momentum stalled last week—while support rests at $79,221, matching Saturday’s low. A breakdown beneath that support level would bring the 200-day EMA at $76,347 into focus.
The Anthropic IPO marks the initial opportunity for public investors to secure a direct ownership stake in a leading frontier AI laboratory. If the company prices near the upper end of Polymarket’s estimates, the creator of Claude will commence its first trading session valued higher than the world’s leading cryptocurrency.
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