Anthropic files for IPO with $11.6B quarterly sales and AI risk warnings

Anthropic has filed for an initial public offering, aiming to go public the week of November 16, with a potential valuation between $1.5 trillion and $2 trillion and the ability to raise up to $100 billion. The AI company's prospectus dedicates over 90 pages to industry risks, warning that advanced systems "could pose catastrophic or existential risks to society." Sales reached $11.6 billion in the April-June quarter, up from $787 million a year earlier, with its first operating profit of nearly $1 billion. Anthropic faces political challenges, including being barred as a Pentagon supplier after refusing to lift restrictions on military use. Co-founders will retain majority voting control, and the company is registered as a public benefit corporation balancing safety goals with shareholder returns.