Anthropic Prepares to File US IPO by End of August; 2025 Net Loss Tops $42 Billion

Anthropic is preparing to make a public filing of its listing application with the US Securities and Exchange Commission as early as the end of August. The company confidentially submitted its IPO prospectus to the regulator in June 2026, and no formal timetable has been announced. Chief Financial Officer Krishna Rao recently hosted an investor briefing to walk through the details; the company's valuation was not discussed during the session. When SpaceX went public in June 2026, it raised $75 billion, and with underwriters exercising over-allotment options, total proceeds reached $86.2 billion, the largest US IPO raise on record. Anthropic was founded in 2021 by a group of researchers and executives who had left OpenAI. In May 2026, the company closed a new funding round at a valuation of $965 billion, surpassing OpenAI's $852 billion valuation from March 2026. The size of the current IPO has not been disclosed. Anthropic's preliminary second-quarter revenue exceeded $11.5 billion, compared with $787 million in the same period of 2025. As of the end of July, the company's revenue run rate had reached $65 billion. In 2025, Anthropic recorded a net loss of nearly $42 billion, roughly five times the approximately $8.3 billion loss in the prior year. As of August 19, 2026, total proceeds from US new listings this year had reached $160.6 billion, against the previous record of $195.2 billion set in 2021.