Anthropic warns of ‘catastrophic’ AI risks in its own IPO filing
As Anthropic gears up for its greatly anticipated public debut, a preview of the company's IPO filing reportedly details its mounting losses, leadership proposals to retain power, and how its AI development plans could "further increase the risk that our models cause harm." These disclosures come as Anthropic eyes a $2 trillion valuation, more than double the $965 billion it was valued at four months ago, making it a contender to overtake SpaceX as the largest IPO in history. A
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An AI startup is preparing to go public with an IPO valuation of $2 trillion while simultaneously disclosing significant financial and safety concerns in its filing documents. The company reported a net loss of $42 billion in 2025 despite revenue increasing 12-fold to nearly $4.6 billion, and it plans to spend $518 billion on computing infrastructure in coming years. The filing warns that its AI development plans could increase risks of harm from its models, creating a tension between investor appeal and disclosed dangers. Additionally, nearly a quarter of its 2025 revenue came from just two clients, making its revenue stream precarious for a company seeking this scale of public investment.
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