THE SHORT VERSION

ANTHROPIC FILES FOR ITS IPO — FOUNDERS KEEP 50.1% OF VOTES FOREVER

Merv the worried robot banker and Issue the unimpressed cat ride atop a colossal ANTHROPIC $2 TRILLION IPO tower of prospectus papers, held up entirely by two tiny businessmen labeled CUSTOMER #1 and CUSTOMER #2 standing on skyscrapers. — Machine Age Cartoon · Zimbo

Anthropic publicly filed its S-1 on Monday, October 26, to sell Class A shares on the Nasdaq under the ticker ANT. The 87-document submission was accepted by the SEC at 9:00:11 a.m. Eastern; the share count and price range are still blank.

The governance is the story: a single Class F share goes to a Founder LLC owned by the seven co-founders and carries votes equal to 50.1% of total voting power, while a Long-Term Benefit Trust elects a majority of the board. Public buyers get the economics, not control — and each co-founder has pledged 80% of their personal Anthropic equity to philanthropy.

The numbers behind it: revenue grew 1,368% year over year in the June quarter, Anthropic has raised $141.1 billion in total and holds $112.4 billion in cash, and the filing calls Claude's uptake the fastest enterprise adoption of any technology in history.