Anthropic filed for an initial public offering on Monday, bringing the maker of the Claude AI platform a step closer to a stock market debut and setting up an early test of investor appetite for the fast-growing AI sector.

The S-1 filing lodged with the US Securities and Exchange Commission points to rapid growth. Anthropic generated $16.3 billion in revenue in the first half of 2026, up from $1.2 billion in the same period a year earlier. The company has yet to make a profit. It reported a net loss of $80.7 billion for the first half of the year, more than six times the net loss of nearly $13 billion for the first two quarters of 2025.

In the filing, Anthropic set out how it sees the technology reshaping the global economy. “We believe the diffusion of AI through the global economy represents one of the largest opportunities in history to improve how humans live and work, and it is just beginning,” said the company.

The IPO could come as early as November and would instantly rank Anthropic among the world’s largest listed companies. The shares will list on the Nasdaq Composite under the ticker “ANT”.

Analysts at the investment advisory firm Lightshed sounded a warning ahead of the filing. “Anthropic could become the most valuable company in the world. It could also end up in bankruptcy,” they wrote. They added: “Anthropic needs capital, with competitors pursuing the same investor dollars. That leaves investors with little time to understand what they are being asked to own.”

Anthropic filed confidentially with the SEC in June, ahead of rival OpenAI, which filed just over a week later. Both are pressing ahead with public listings despite concerns about the risks the technology carries. In September, chief executive Dario Amodei called for a slowdown in AI development after one of the company’s former researchers said there was a 10% chance the technology could wipe out humanity within a decade. Amodei said the pace of growth should serve as a warning sign while arguing for continued development of AI.