Anthropic files an S-1, price still unset

Anthropic’s announcement says Anthropic, PBC has filed a Form S-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering of Class A common stock. The page date is October 26, 2026. The company intends to list that stock on the Nasdaq Global Select Market under the symbol ANT. The same page says the number of shares and the price range have not been determined. The registration statement has been filed and is not yet effective. Until it becomes effective, the securities cannot be sold, and offers to buy cannot be accepted.

The Verge timestamp is October 26, 2026, 1:32 p.m. UTC. The article puts operating figures from the public document on the record: according to the S-1, the first half of this year brought an $80.7 billion net loss on $16.3 billion of revenue. It then says most of that loss comes from accounting charges on notes issued to raise funding. The Verge does not present that explanation as a sentence it is quoting from the prospectus. It attributes the explanation to an earlier Wall Street Journal report based on leaked versions of the document. The loss and the revenue are figures this article says are in the S-1. The accounting explanation rests on that earlier leak report.

The compute figures are also presented as contract amounts in the filing, not as cash already paid. Once all of the planned capacity is delivered, the company would pay SpaceX about $3.1 billion a month for access to Nvidia GPUs, totaling as much as $120.5 billion by 2029. Other commitments named in the article are $44.9 billion with Microsoft through 2033, at least $114.5 billion with Google through 2033, and $110 billion with Amazon over the next ten years. The article also says the company confidentially filed with the SEC in June. That confidential step is earlier. What became public on this date are the figures in the S-1.

Pay is in the same document. The article says cofounder and chief executive Dario Amodei’s 2025 compensation totaled nearly $18 million, most of it from stock and option awards. Cofounder, president, and director Daniela Amodei received $16.4 million in 2025, the second-highest figure among executives. Those are totals from the filing, not remarks the two of them made.

The risk factors are possibilities the company wrote into the filing, not events that have already occurred. The article’s list includes the prospect that its models develop what the filing calls forms of sentience, taxes specific to AI, unfavorable outcomes in copyright disputes over training data, and what it calls catastrophic AI-related incidents. The company also said no single insurer, and potentially the insurance industry in the aggregate, could underwrite that risk.

The Verge frames the filing as Anthropic preparing to reach the public market ahead of OpenAI. That is the article’s own judgment. The company announcement describes its own S-1, the ticker ANT, and a registration that is not yet effective. It does not set out a competitor’s timetable. Neither source gives an offering price, a share count, or a date on which the registration becomes effective.

The announcement says that copies of the preliminary prospectus, when available, may be obtained from the prospectus departments of Goldman Sachs and Morgan Stanley in New York, and it prints addresses and a telephone number. The same page says the announcement is not an offer to sell and not a solicitation of an offer to buy, and that no offer or sale may be made in a jurisdiction where it would be unlawful before registration. The Verge’s account of the filing says the company wants investors to understand four things: the potential of AI, the risks that have to be handled, what the company presents as its own way of operating, and the chance that its conduct will differ from that of a company focused only on maximizing profit. That is a description the company put in the document, not an operating result that has already happened.