Anthropic files for IPO, expected to list in two weeks at roughly $2T valuation

[AINews] Anthropic files for $2T IPO in 2 weeks: 1400% growth rate, 48% of revenue through cloud partners, 85% margin, $1B op profit in Q2, $134B cash in bank and $10B lifetime burn

Anthropic has publicly filed its S-1 to list on Nasdaq under the ticker ANT, with the IPO expected in about two weeks and the market expecting a valuation near $2T. The filing shows H1 2026 revenue of $16.3B at an 85% gross margin, and Q2 revenue of $11.6B, up 1,368% year on year, with operating profit of $974M.

Why it matters: Anthropic books cloud marketplace channel fees as sales, marketing and partnership spend, so the cost of the 48% of revenue distributed through cloud partners stays out of its 85% gross margin.