The Anthropic IPO by the numbers, from a possible valuation in the trillions to surging revenue

Anthropic could make history with what may become the biggest initial public offering of stock ever. An initial public offering, or IPO, is when a company first sells shares to the public.

The artificial intelligence company filed papers on Monday to prepare for a stock market debut next month. This would put it ahead of its main rival, OpenAI. The move comes just months after SpaceX set records in June with an IPO that raised $86 billion.

The papers show that Anthropic, the company behind the Claude chatbot, has seen its revenue grow quickly. But it has not yet become profitable. Reports say the IPO could bring in as much as $60 billion, helping the five-year-old startup grow faster.

The filing comes as Anthropic's competitors, such as OpenAI, are also preparing to go public next year. At the same time, concerns are growing that the technology could escape human control and carry out harmful actions. Anthropic co-founder and chief executive Dario Amodei has said the industry should slow its rapid development to give safety measures time to catch up.

Here is a look at the main figures behind the company's plans.

Up to $1 trillion

This is the reported value Anthropic could reach when it goes public. That would be more than SpaceX's initial valuation of $800 billion and could make Anthropic one of the world's most valuable publicly traded companies. Nvidia, a maker of computer chips, currently has a value of more than $5 trillion.

Anthropic's final value and the price of its shares have not yet been decided.

$60 billion

Anthropic said in its filing that it had this amount available in cash or cash-like assets as of June 30. The company also said its plans to build computing power and other infrastructure are changing the way money flows through its business and will require large amounts of spending.

$5.5 billion

This was Anthropic's revenue in the first half of the year. That is about 10 times the revenue it earned during the same period last year.

$7.9 billion

This was the amount Anthropic reported in net losses during the first half of the year. It included a one-time charge of $5.2 billion for an accounting adjustment related to financing agreements, according to the filing. It is not unusual for technology companies to go public before they have started making a profit.

800

This is how many pages Anthropic used to describe risks for investors. Public companies must tell the U.S. Securities and Exchange Commission about risks in their IPO documents. Anthropic's filing is unusually long.

Among the concerns were that advanced AI systems could pose “catastrophic or existential risks to humanity.”

About 10,000

This is the approximate number of Anthropic customers whose accounts each brought in $1 million or more in revenue over the past year. Anthropic did not name its biggest customers in the filing. However, it said its top five customers together accounted for about 40% of its revenue this year.

7

Seven people will have voting power at Anthropic after it goes public: Amodei and six other co-founders. The company will issue a single class of Class A common stock through a limited liability company organized by its co-founders. Amodei's sister and Anthropic president, Daniela Amodei, is among the former OpenAI employees who left that company to create Anthropic in 2021.

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