Thinking About Buying Anthropic Stock? Consider These Risks Firsts

Anthropic, the company behind Claude and other AI models, filed its IPO prospectus on Oct. 26, giving investors their first detailed look at the financials behind one of the world’s most prominent AI companies. But prospective buyers may want to wait a few quarters before buying Anthropic stock, as a potentially lofty valuation, slowing growth and enormous long-term computing commitments could put pressure on shares after the company goes public.

The rocky performance of large IPOs from SpaceX, Figma and Facebook argue for waiting at least through Anthropic’s first public earnings report, since that report and the one after it trigger the largest scheduled lockup releases.

The more important concern is whether Anthropic can exceed investor expectations for growth and profitability after going public. If that does not happen, investors could suffer.

What Anthropic’s IPO Filing Reveals

Anthropic will go public under the ANT trading symbol, which conjures in my mind a swarm of ants devouring the foundation of society or, alternatively, a colony of ants cooperating to keep itself alive.

Not surprisingly, Anthropic has chosen two leading banks, Goldman Sachs and Morgan Stanley, to run the IPO. They will likely decide on a price range for the IPO that will value the company at between $1.5 trillion and $2 trillion, per Reuters Breakingviews.

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Whatever price the banks and the company pick will aim to achieve a headline-worthy first-day rise in the stock price. It would not surprise me if people who feel positively about using Claude cannot resist the opportunity to buy the stock.

Meanwhile, Anthropic’s financial condition is extreme. For example, the company’s revenue grew about 13.6-fold from $1.16 billion to $16.3 billion, between the first half of 2025 and the first half of 2026, according to the IPO prospectus.

The Biggest Risks Facing Anthropic Investors

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