Anthropic Files for Nasdaq IPO Under Ticker ANT, Debut Possible Nov. 16, as Meta Outlines Up to $97.5 Billion in Stock Sales

Since Anthropic filed its IPO paperwork Monday, Oct. 26, the numbers inside it have become the sharpest test yet of whether Wall Street will keep paying for the AI buildout. Meta's own plan to raise up to $97.5 billion in equity landed in the same week.

What the Anthropic filing shows

Anthropic's SEC filing sets up a Nasdaq listing under the ticker ANT as soon as Nov. 16. The company has not disclosed how many shares it will sell or at what price. That will be set in the coming weeks. A share sale reportedly worth $100 billion has been floated, along with a valuation of up to $2 trillion. Anthropic was last valued at $965 billion after raising $65 billion in May.

Revenue for the first half of 2026 reached $16.3 billion, up about 1,300% from a year earlier. The company says it has more than 14,000 enterprise customers, about 250 of them paying $10 million or more a year. Roughly one-fifth of first-half revenue came from just two customers, and the company warned it expects to keep leaning on a limited number of them.

The net loss for the six months ended June 30 was $80.7 billion, versus $13 billion a year earlier. About $72 billion of that came from changes in the fair value of convertible notes, derivative liabilities and SAFEs, according to the filing. Nearly $9 billion went to computing capacity. The filing does not include results for the quarter that ended Sept. 30.

$600 billion in commitments

The spending obligations dwarf the loss. Anthropic says it has committed to about $450 billion in cloud agreements over the next seven to ten years, mostly noncancelable. That includes $111 billion for Google, $110 billion for Amazon Web Services and $31 billion for Microsoft, payable regardless of actual usage.

Separately, Anthropic agreed to spend up to $86 billion renting Nvidia chips from Nscale and Lambda through 2033 and 2034. It also carries an obligation of more than $160 billion to lease Google chips through a deal with Broadcom. Total future infrastructure costs top $600 billion, and ongoing negotiations could add as much as $150 billion.

The filing also discloses friction with its biggest suppliers. Anthropic says AWS, Google and Microsoft increasingly view it as a competitor and have limited the computing capacity they will provide. It is building its own data centers through long-term leases and third-party operators, some with limited operating history. It also warned that political opposition to data center construction could become more organized across jurisdictions.

The risk section runs from competition with other AI labs to "catastrophic or existential risks to humanity."

The 5% pledge

Anthropic announced Sunday that it will commit 5% of its shares to a new Anthropic Public Benefit Fund, which could support nonprofit donations or direct distributions to specific populations. Elon Musk wrote on X: "I recommend giving the shares directly to the public." Anthropic did not answer Fox News Digital's question on Monday about whether it would give any of the equity directly to Americans.

Meta, CoreWeave and the cost of capital

Meta outlined a plan that could raise as much as $97.5 billion through equity offerings over the coming months, including a new class of stock. Meta shares have fallen more than 11% since the company disclosed that plan and its first quarterly cash burn in more than a decade.

CoreWeave remains the stress point on the debt side. It carries a $50 billion debt load, its bond yields have soared, and its shares recently hit their lowest level since May 2025 before rebounding about 10% this week.

J.P. Morgan data indicates that this year's AI capital spending by Amazon, Alphabet, Meta, Oracle and Microsoft will likely equal what they spent cumulatively since ChatGPT launched in November 2022. Carson Group found that AI stocks accounted for nearly 75% of the S&P 500's return in the first half of 2026.

The market has been jumpy. The PHLX Semiconductor Index fell almost 10% in the week through Oct. 15. Chip stocks then snapped an eight-day losing streak, their longest in 18 years, on Monday. Rising borrowing costs are part of the worry, since much of the money going to chips and data centers is borrowed.

Earnings and the Fed

Wednesday's reports split the market. After the close, Microsoft shares were up about 6% and Alphabet down about 10% following results. Wall Street rose during the session after the Federal Reserve, led by Chair Kevin Warsh, held rates steady, though the yield curve steepened sharply after his press conference. Bank of America analysts expect $175 billion of investment-grade bond issuance in November, on top of the equity raises.

The bullish case comes from Hendi Susanto, a portfolio manager at Gabelli Funds. "The biggest challenge in AI investing right now isn't the fundamentals," he told The Epoch Times. "It is the expectations that are fragile." He said the infrastructure buildout will continue into the new year because demand remains high for accelerators, chipmaking equipment, memory chips and networking.

Jacob Bourne, an analyst at Emarketer, said Anthropic's decision to go ahead signals "a willingness to face heightened public scrutiny."

The open questions are specific. Anthropic still has to set the size and price of its offering ahead of a Nov. 16 debut. Meta has to execute equity sales while its stock is under pressure. Anthropic's third-quarter numbers, which the filing does not include, are also still to come.