THE BIGGEST LISTING IN HISTORY COMES WITH A DOOMSDAY CLAUSE! AI firm Anthropic, owner of the Claude chatbot, has released the paperwork for its long-awaited US stock market debut, the BBC reported.
Buried in the risk factors: “Sufficiently advanced AI systems could, if not developed, deployed, and operated with appropriate safeguards, oversight, and security measures, pose catastrophic or existential risks to humanity.” The filing also says that less than a year ago, a hacking group Anthropic believes was sponsored by China “manipulated” Claude to break into tech companies, banks, chemical makers and government agencies.
Now the money. Anthropic lost $80.7bn in the first half of this year, double its loss for all of 2025, on revenue of $16.2bn. Data centre leasing alone has cost $321.4bn so far this year. It’s also sitting on $131.6bn in cash, which the BBC says is more than Meta and Google combined.
It’s widely expected to debut at a valuation of $2 trillion or more, though no target share price has been set. Investors “will be paying for future dominance, not present-day economics,” Mergermarket’s Troy Hooper told the BBC.
The customer list is concentrated. About 250 big enterprise clients have each paid at least $10m in the past year, and just five account for a quarter of the business. Enterprise customers jumped from roughly 1,500 last year to almost 12,000 this year.
Featured image: AI-generated editorial illustration by Bugle Blast.
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