Rohan Paul says Anthropic S-1 shows R&D consumes most of the compute
On October 26, 2026, Anthropic publicly submitted a Form S-1 registration statement, planning to list on Nasdaq under the ticker ANT. The prospectus disclosed that its revenue grew from $41 million in 2023 to $16.3 billion in the first half of 2026, with operating profit of $974 million in the second quarter. Subsequently, Anthropic acknowledged in the filing that its life sciences business lacks physical laboratory experience, and disclosed four previously unreported Agent safety incidents as well as a delay in pretraining its frontier models. Goldman Sachs served as lead underwriter, and Reuters reported that its IPO fundraising cap could reach $100 billion. On October 30, Steve Eisman questioned whether the prospectus deliberately omitted third-quarter data. On November 2, Anthropic submitted a revised S-1, disclosing approximately $895.4 billion in computing power procurement and leasing commitments, third-quarter revenue of $16.956 billion, up 1127% year-over-year, and an operating loss of $567 million for the quarter; on the same day, another report said it plans to raise up to $3.5 billion from Japanese investors.
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View story:Anthropic Publicly Submits S-1 Registration Statement for Proposed IPO on Nasdaq