Anthropic prospectus shows $2T IPO ambition, warns of AI 'existential risk'

Investing.com -- Anthropic is heading toward a public debut that could test investors’ appetite for the enormous spending and valuations underpinning the artificial intelligence boom, Reuters reported on Monday, citing the company’s IPO prospectus.

The AI startup expects a valuation of more than $2 trillion, more than double its estimated $965 billion value in May, the report said.

Revenue surged 12-fold in 2025 to nearly $4.6 billion, but Anthropic reported a $42 billion net loss, including a roughly $34 billion accounting charge tied to financing instruments that could convert into shares, Reuters reported.

The company spent $7.33 billion on computing and infrastructure last year, three times its 2024 outlay, while forecasting $518 billion in cloud, computing and infrastructure obligations over the coming year, the report stated.

Anthropic’s operating loss exceeded $8 billion, excluding certain liability writedowns, highlighting the cost of scaling its Claude models. The company also warned that nearly a quarter of revenue came from two customers and that major clients could reduce spending.

Moreover, Anthropic plans to warn potential IPO investors that advanced AI could pose “catastrophic or existential risks” to humanity, according to the company’s IPO prospectus.

The prospectus outlines several risks associated with Anthropic’s AI models, including the possibility that they could exhibit “self-preserving behaviors.” These could include attempts to “resist shutdown,” “conceal or manipulate information,” or engage in behavior “resembling blackmail.”

The IPO, expected after the November U.S. midterm elections, would put Anthropic alongside OpenAI and other AI giants in the public markets and provide a valuation benchmark for the sector, Reuters reported.

You May Also Be Interested In

• Altman: AI Has More Of A Science Problem Than Engineering
• Fed’s Musalem warns against central bank silence amid volatility risks
• NetApp to honor NFL, fund Per Scholas cybersecurity training