Artificial intelligence giant Anthropic filed papers Monday for what could be the biggest
initial public offering of stock ever even as its top executive warns that advanced AI could pose an existential threat to humanity.
The filing sets up the San Francisco company for a Wall Street debut next month, potentially eclipsing SpaceX IPO in June that raised a record $86 billion. An Anthropic IPO would also put the company ahead of OpenAI in going public in what is expected to be a pair of blockbuster stock debuts for the rival AI labs.
The filing comes weeks after CEO 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. The amount the company ultimately raises remains uncertain, as do its final valuation and offering price, but even at lower estimates, it would turn the five-year-old startup into one of the world’s most valuable companies and potentially boost the wealth of Amodei and his sister and co-founder, Daniela, by billions of dollars.
The 335-page document showed Anthropic’s revenue is growing rapidly, but 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. That compares to a loss of $13 billion in the same period a year earlier.
Despite the losses, Anthropic, valued earlier this year at $965 billion by private investors, 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.
As for money raised, the offering could bring in as much as $100 billion, according to reports, surpassing the current record set by another one of Musk’s companies, SpaceX, earlier this year. Anthropic, meanwhile, emphasised the potential for its AI to “behave in unintended, misaligned, or autonomous ways” in the filing. If its technologies are not developed with adequate safeguards and oversight, it could “pose catastrophic or existential risks to humanity, particularly if such systems were misused, replicated, weaponized, or allowed to operate with a high degree of autonomy.”