Anthropic’s October 26 IPO filing reveals $16.29 billion in first-half 2026 revenue and an $80.75 billion net loss, largely driven by accounting adjustments tied to convertible financing. The company plans to list on Nasdaq under ( $ANT ), but has not disclosed its IPO price, offering size or valuation. •Revenue growth: First-half revenue surged to $16.29 billion from $1.16 billion a year earlier. Full-year 2025 revenue was $4.59 billion, compared with $386 million in 2024. •Profitability: First-half operating losses narrowed to $693 million from $2.14 billion a year earlier. Adjusted operating income reached $1.62 billion, while adjusted net income totaled $2.67 billion. The $80.75 billion GAAP net loss included $72.39 billion in fair-value adjustments to convertible notes and related instruments, primarily reflecting rising company valuation. •Financial position: As of June 30, Anthropic held $131.65 billion in cash and short-term investments, against $117.47 billion in total liabilities. It reported $141.1 billion in cumulative capital raised. •Enterprise adoption: As of September 30, Anthropic had over 11,900 customers generating at least $100,000 annually, including more than 1,900 above $1 million and approximately 250 above $10 million. Net revenue retention reached approximately 900%. •AI infrastructure: Anthropic uses AWS Trainium, Google TPUs, Nvidia ( $NVDA ) GPUs and AMD ( $AMD ) GPUs. It plans additional data center investments, but specific long-term compute commitments remain undisclosed in the preliminary filing. •Founder control: Anthropic’s seven co-founders will collectively hold 50.1% of general shareholder voting power through a special share class. Separately, its independent Long-Term Benefit Trust will generally appoint a majority of the board, limiting public shareholders’ influence over governance. •Public benefit: Anthropic allocated shares representing 5% of its fully diluted equity to a public-benefit fund and established a framework allowing additional contributions tied to stock appreciation. Its co-founders have pledged 80% of their personal equity to philanthropy. •IPO proceeds: Funds will support AI computing infrastructure, operations, hiring and certain employee equity-related tax obligations. Existing shareholders will also sell shares, with those proceeds going to the sellers rather than Anthropic.