Anthropic’s highly anticipated IPO plans have finally been made public.
The creator of Claude publicly filed an S-1 document with the Securities and Exchange Commission. It did not disclose how many shares it plans to offer, what price it will seek, or when it plans to list the shares — although published reports suggest it will be mid-November.
A number of high-profile hedge funds are anticipating a potential windfall from the public offering. Many of their investments are already said to be worth billions of dollars.
According to the filing, Anthropic’s revenue was $11.6 billion for the three months ended June 30, 2026, up from $787 million for the similar 2025 period. Anthropic says its net loss for the first half of 2026 was $80.7 billion and that in full-year 2025, it lost $42 billion.
The company notes that as of June 30, it had raised a total of $141.1 billion of capital and had cash and cash equivalents of $112.4 billion and short-term investments of $19.3 billion. It says existing available cash and cash equivalents, together with cash generated from sales and amounts available under its credit facility, will be sufficient to support working capital, operating and finance lease payments, and capital expenditure requirements for at least the next 12 months.
However, Anthropic warns that future capital requirements will depend on many variables, including revenue growth; the timing and extent of its investments in compute and infrastructure; and the success and expansion of its sales, marketing, and business development strategies. “As a result of these and other factors, we may be required to seek additional financing sooner than we currently anticipate,” it explains.
Although we don’t know what valuation Anthropic will seek in the IPO, early investors are poised to enjoy a huge return. Over the years, 148 investors participated in roughly 20 financing rounds, according to Crunchbase. But no hedge fund or any other venture capital firm owns at least 5 percent of the shares, per the filing.
That said, two of the biggest hedge fund investors have been Coatue Management and D1 Capital Partners.
In March 2025, D1 Capital participated in Anthropic’s $3.5 billion Series E financing round, which valued the company at $61.5 billion. In September 2025, Coatue and D1 Capital were investors in Anthropic’s $13 billion Series F financing, which valued the company at $183 billion.
In February 2026, Coatue co-led Anthropic’s $30 billion Series G funding, with a company valuation of $380 billion. Other hedge funds that participated in the round include D.E. Shaw Ventures, Appaloosa, D1 Capital, Whale Rock Capital Management, and Tiger Global Management.
“Since our initial investment in 2025, Anthropic’s focus on agentic coding and enterprise-grade AI systems has accelerated its progress toward large-scale adoption,” said Coatue founder Philippe Laffont in a press release accompanying the financing. “The team’s ability to rapidly scale its offerings further positions Anthropic as a leader in a highly competitive AI market.”
Three months later, Coatue, along with D1 Capital, Capital Group, GIC, ICONIQ, and XN, co-led the $65 billion Series H financing, valuing Anthropic at $965 billion. D.E. Shaw Ventures also participated.
