Anthropic's IPO filing shows soaring revenue, mounting costs, and "existential" risks

Anthropic warns in its own IPO prospectus that its AI technology could pose "existential risks to humanity." Revenue grew twelvefold in 2025 to $4.6 billion, but the operating loss widened to $8.06 billion. Backers are aiming for a valuation above $2 trillion, and the IPO is expected to set the bar for the entire AI industry.