Anthropic, the company that makes Claude, just filed to go public. That means it plans to sell shares on the stock market, on the Nasdaq, under the ticker "ANT."
First, the important part: this is not financial advice. I'm not telling you to buy anything. And you can't yet anyway, because the price and the number of shares haven't been set.
To go public, a company has to show everyone how it's really doing. So for the first time, we get to see inside one of the biggest AI companies in the world. You can read the full filing here. Here's what it means for you.
It's growing incredibly fast
Anthropic made $41 million in 2023. In the first six months of this year, it made more than $16 billion, about 14 times what it made in the same stretch last year. And it's businesses paying for this, not curious hobbyists: about 250 companies pay Anthropic more than $10 million a year each.
About that scary loss
You may see a headline saying Anthropic lost $80.7 billion in six months. That sounds terrifying, but almost all of it ($72.4 billion) is an accounting entry, and no cash left the building.
Here's what happened. Earlier on, Anthropic promised some early investors a slice of the company. As Anthropic's value shot up, those slices got a lot more valuable, and the accounting rules make the company record that jump as a loss.
On its actual business, the picture looks very different. It lost $693 million on $16.3 billion in sales, so it's close to breaking even.
What they say is coming
This part is pretty crazy... in a legal document that lawyers went over line by line, Anthropic wrote that it believes "Powerful AI" (AI that matches or beats top human experts in most fields and can work on its own for hours, days or weeks) "will become widely available within a few years."
I personally think there's a chance it comes even sooner.
They also list the risks in their own words: AI-powered cyberattacks, misuse in biology, power and wealth piling up in a few hands, and AI that ends up pursuing goals nobody intended.
Who's in charge
Anthropic is a "public benefit corporation." By law, it has to weigh its mission and the public, not just shareholders. A group of people with no money at stake helps pick its board.
One thing to watch for
When Anthropic sets a price, this will be news everywhere, and the scammers will follow. If anyone calls, texts or emails you with a special deal on Anthropic shares before they're listed, it's almost certainly a scam. Hang up. If you ever decide to buy, it'll be through your normal brokerage account, under ANT, like any other stock.
If you've got a question about the filing, hit reply. I read every one, and answer as many as I can.
— Matt
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