Leaked Anthropic IPO Filing Puts AI Risk in the Spotlight for Markets

A leaked prospectus obtained by Reuters shows Anthropic is targeting a valuation of about $2 trillion in an expected fall IPO, more than double its current $965 billion valuation. The filing reports a 2025 net loss of $42 billion on $4.6 billion in revenue.

The document also carries stark warnings about AI, citing potential catastrophic or existential risks to humanity. The details helped keep U.S. equity futures little changed on Tuesday as investors weighed the scale of AI spending against the risks.

The news matters for AI-linked holdings such as server maker Super Micro Computer and bitcoin miner Riot Platforms, both of which have tied their growth to AI infrastructure demand. A public Anthropic listing could become a key gauge of investor appetite for the sector.