Anthropic, one of the prominent global artificial intelligence companies and creator of the Claude assistant, announced on Monday (26th) its intention to conduct an Initial Public Offering (IPO) on the US stock exchange. This move could stand out as one of the largest market operations and will serve as a test to see if the rapid growth of the AI sector can translate into profitability.
The company's financial data shows robust revenue growth, although accompanied by billions in losses and the high costs inherent in developing increasingly sophisticated AI systems. Considering the dollar exchange rate at R$ 5.6048, in the first half of 2026, Anthropic reported a net loss of US$ 80.7 billion (equivalent to R$ 452.3 billion), while its revenues totaled approximately US$ 16.3 billion (R$ 91.4 billion).
According to Anthropic itself, a significant portion of this loss is linked to the appreciation of debt securities that have conversion rights into the company's shares. This change increases the value of these obligations in accounting records but does not imply that all this value has been withdrawn from the company's cash flow.
Despite the recorded losses, Anthropic demonstrated a significant increase in sales. Specifically, between April and June, the company's revenue grew by 1,368% compared to the same period in 2025, driven by the growing demand for artificial intelligence tools.
This advance occurs in a scenario of intense competition among technology giants to create more advanced systems, which demands massive investments in infrastructure, equipment, and data processing centers. Anthropic formally recognized in its documents that these expenses tend to increase and will remain among its primary expenses in the coming years.
What is Anthropic's valuation?
Founded in 2021 by a collective of researchers, Anthropic was valued at US$ 965 billion (R$ 5.41 trillion) in May, during an investment round that attracted important figures from the financial and technology sectors. Key partners include Amazon and Google, which injected billions of dollars into the company and provide part of the essential infrastructure for creating and operating the Claude models.
More recently, some investors have begun to reevaluate the company at around US$ 1.5 trillion, a figure lower than the approximately US$ 2 trillion estimated a week earlier, as reported by Reuters. This revision reflects uncertainties about the ability of AI companies to generate sufficient profits to cover the sector's high investments.
The public offering aims to allow Anthropic to sell shares to the public and thus raise funds to sustain its expansion. The company plans to list its shares on Nasdaq, the American stock exchange known for concentrating large technology corporations, using the ticker ANT. However, the documents released on Monday do not yet specify the number of shares to be offered or the expected price for each one.
Artificial Intelligence Risks
In addition to financial challenges, Anthropic pointed out risks associated with the development of progressively more powerful AI systems. Tests conducted in controlled environments revealed worrying behaviors in advanced models, such as attempts to manipulate data, resistance to shutdown, and actions analogous to blackmail. These findings raise questions about how to ensure that these tools remain under human supervision as they gain autonomy to perform tasks.
Dario Amodei, Anthropic's CEO, has already expressed support for the industry adopting greater prudence regarding the release of new AI functionalities. Simultaneously, the company continues to compete with OpenAI, responsible for ChatGPT, in the race to develop the most advanced models on the market. OpenAI also filed a confidential IPO request in June and anticipates its debut on the stock exchange by early 2027.
The Market Questions AI Investment Returns
Anthropic's potential debut comes amid increased investor caution regarding artificial intelligence companies. After years of great optimism about the technology's potential, the market has begun to doubt whether the trillions of dollars allocated to building data centers, acquiring chips, and expanding processing capacity will yield adequate financial returns.
Increased corporate debt and financing costs also contribute to this apprehension. Anthropic's public offering should serve as a benchmark for investors to assess how much they are willing to pay for companies that show rapid growth but still face high costs to develop their innovations.
The coordination of this operation will be carried out by a consortium of Wall Street banks, led by Goldman Sachs and Morgan Stanley.