Anthropic files for Nasdaq IPO with $131.7 billion on hand
Anthropic filed to list on Nasdaq on Monday. According to the company’s S-1 registration statement submitted to the U.S. Securities and Exchange Commission, it held $112.4 billion in cash and cash equivalents and $19.3 billion in short-term investments as of June 30, 2026, bringing the total to $131.7 billion.
CNBC, citing data compiled by S&P Capital IQ, said that amount is higher than every non-bank U.S. company except Berkshire Hathaway and Alphabet. Anthropic’s cash position is also larger than those of Amazon, SpaceX, Meta and Microsoft, and exceeds the combined total of Nvidia and Apple.
Cash climbed from $17.4 billion to $112.4 billion in six months
The S-1 shows Anthropic had $17.4 billion in cash and cash equivalents at the end of last year. By June 30, that figure had increased by about $95 billion. The main source was the issuance of convertible preferred stock, which generated net proceeds of $110.4 billion in the first half of this year. Since its founding, Anthropic has raised a cumulative $141.1 billion.
In its core business, Anthropic reported $3.9 billion in net cash provided by operating activities in the first half of this year, compared with net cash used in operating activities of $2.6 billion for the full prior year.
Uncommenced compute lease obligations reach $321.4 billion
The filing also disclosed large compute-related commitments. As of June 30, Anthropic had signed leases that had not yet commenced, mainly for compute and infrastructure, with estimated undiscounted obligations of about $321.4 billion. Those leases are set to begin between 2026 and 2028, with terms of up to 20 years. The company also disclosed about $265.6 billion in fixed or minimum guaranteed commitments tied to cloud services and similar contracts.
After June 30, Anthropic signed new agreements and amended existing lease and commercial contracts, bringing future minimum payment obligations to about $245 billion. The company said in the filing that it typically procures compute capacity 12 to 18 months in advance, while the related expense is recognized only after the capacity is actually delivered. In the first half of the year, it recognized $8.95 billion in compute and infrastructure expense.
IPO proceeds could top $100 billion, CNBC says
CNBC, citing The Wall Street Journal, reported that Anthropic’s IPO fundraising could exceed $100 billion. Anthropic said in the filing that existing shareholders will also sell shares in the offering. CNBC added that details including the size of the deal are expected to be disclosed in about two weeks.
