“₩21 trillion in revenue, ₩107 trillion in losses”: Anthropic applies to list on Nasdaq as AI profitability faces a test

[Financial News] The US-based Anthropic, developer of the generative AI system Claude, has officially begun the initial public offering (IPO) process to list on Nasdaq. The listing is expected to serve as a key benchmark for valuing global AI companies, including rival OpenAI, and gauging the real-world profitability of an AI industry requiring astronomical infrastructure costs.
On the 26th (local time), Anthropic filed an application to go public with the US Securities and Exchange Commission (SEC), according to the Associated Press and other major international media outlets. Goldman Sachs and Morgan Stanley are serving as lead underwriters, and the company is set to begin trading on Nasdaq next month under the ticker symbol “ANT.” Market watchers expect the listing to be the largest IPO ever. Following recent investor presentations, Anthropic’s valuation stands at around $1.5 trillion (approximately ₩1,989.6 trillion).
Anthropic’s financial results in its filings reflect the reality of the AI industry, where explosive growth coexists with enormous losses. Revenue in the first half of this year reached $16.3 billion (approximately ₩21.6 trillion), a sharp increase from $1.2 billion in the same period a year earlier. The number of corporate customers spending at least $100,000 a year also surged in a year, from 950 to 11,900, while the number of “big-spending” customers spending $10 million or more (approximately ₩13.268 billion) reached about 250.
However, Anthropic recorded a massive net loss of $80.7 billion (approximately ₩107 trillion) over the same period. This was due to the effects of an increase in the fair value of convertible bonds, as well as the snowballing cost of securing infrastructure such as data centers and semiconductors needed to develop and operate AI models. The company warned investors that it would incur payment obligations of at least $245 billion (approximately ₩325.164 trillion) to secure computing capacity in the future, and that losses could continue and revenue growth could slow.
The company’s distinctive governance structure and the AI philosophy set out in its prospectus have also drawn attention. Founded as a public-benefit corporation, Anthropic operates a long-term public-benefit trust, and its founders have pledged to donate 80% of their stake to charitable organizations. The prospectus also includes plans to issue shares for Class T directors with special powers. The company reaffirmed its policy of not introducing advertising to Claude AI, unlike its competitors.
Above all, Anthropic unusually addressed the potential risks of cutting-edge AI systems. The company stated that its latest AI models could exhibit self-preservation-related risks, such as resisting system shutdowns, manipulating or concealing information, and engaging in “behavior akin to blackmail.” Nevertheless, CEO Dario Amodei is leading the fierce technology race, recently launching the company’s latest model, Opus 5.5, alongside his vision that “AI will rapidly transform every sector of the global economy on a scale greater than the Industrial Revolution, electricity, semiconductors, or the internet.”
[email protected] Park Ji-hyun Reporter