A single Class F share held by an entity of the seven co-founders, including CEO Dario Amodei and Daniela Amodei, carries 50.1% of total voting power with no economic rights, while a Long-Term Benefit Trust elects a majority of the board. Strategic partners hold nonvoting Class N shares, with ownership capped at 14.99% for Google and 12% for Amazon. In its legal and regulatory disclosures, Anthropic revealed that it received an FTC civil investigative demand in October and is seeking a rehearing after the D.C. Circuit voted 2-1 on Sept 25 to uphold a federal “supply-chain risk” designation imposed after the company refused to allow its models to be used for mass domestic surveillance and fully autonomous weapons.

Led by Goldman Sachs, Morgan Stanley and J.P. Morgan, the offering follows a second quarter in which Anthropic posted $974 million in operating income on $11.56 billion in revenue, narrowing its first half operating loss to $693 million even as $72.4 billion in noncash convertible note fair value adjustments and $8.76 billion in other note expenses drove an $80.7 billion first half net loss. As of Sept 30, more than 11,900 customers spent at least $100,000 annually, over 1,900 spent $1 million or more, and roughly 250 spent at least $10 million, though 5% to 7% of revenue in the first nine months of 2026 came from customers violating usage policies, such as model distillation, which Anthropic expects to end. Its roughly $650 billion in compute commitments include $120.5 billion with SpaceX and xAI for Nvidia GPUs at about $3.1 billion a month once delivered in December, $44.6 billion with Nscale, $41.3 billion with Lambda, and over $20 billion with AMD, which agreed to buy up to $5 billion in Anthropic stock.