Anthropic set to publish its S-1 at 9 a.m. EST, opening the books on a potential mega IPO

Anthropic is about to show Wall Street its homework. The AI company will release its Form S-1 registration statement at 9 a.m. EST, the public document that formally sets the stage for an initial public offering. For a company valued at $965 billion in private markets, this is the moment the curtain comes up. Investors are about to find out what they would actually be buying. What the filing is expected to show Anthropic submitted a confidential draft to the SEC on June 1, 2026. The public version is scheduled to land on October 26, 2026. Bankers are reportedly targeting proceeds of up to $100 billion. The target valuation is reported at approximately $2 trillion, which would place the deal among the largest IPOs ever attempted. The top-line numbers are striking. According to figures from Anthropic’s draft prospectus, the company booked $16.3 billion in revenue in the first half of 2026, up from $1.1 billion a year earlier. Then comes the other side of the ledger. Anthropic reported a net loss of $80.7 billion for the same period. Most of that loss, about $72 billion, stems from non-cash charges tied to accounting and financing. Translated: much of the red ink reflects bookkeeping ...