Anthropic opens its books for Wall Street, showing record revenue and mounting obligations

Anthropic filed an S-1 with the SEC to list on Nasdaq under the ticker "ANT," with Goldman Sachs and Morgan Stanley leading the offering and Wall Street expecting a valuation of roughly $2 trillion. Revenue rose from $376 million in Q1 2025 to $11.6 billion in Q2 2026, totaling $16.3 billion for the first half of 2026, and the company posted its first positive GAAP operating profit of $974 million in Q2 2026. Compute capacity contracts with Broadcom, Google, Amazon, Microsoft and other providers total roughly $780 to $810 billion in largely fixed, long-term obligations against variable, usage-dependent revenue.