12 AI terms investors need to know before Anthropic's IPO

Anthropic has filed for an IPO with first-half 2026 revenue of $16.3 billion and a net loss of $80.7 billion, targeting a valuation between $1.5 trillion and $2 trillion. The listing could occur before the end of November. The prospectus defines 39 technical terms investors will encounter in future earnings calls and filings. Key concepts include agent loop, multi-agent orchestration, and context window for AI operations, plus reinforcement learning, RLHF, and Constitutional AI for training and safety. Other important terms cover customer segments like prosumers and applied AI teams, along with risks such as prompt injection attacks. OpenAI, expected to list in 2027, may use similar language in its own filings.