With an IPO Fast Approaching, Anthropic Is Embracing Trump’s Preferred ‘Super Intelligence.’ What That Means for Future ANT Stock Investors.

Anthropic (ANT) is quickly approaching an initial public offering (IPO), and in its latest filing, the company used the terms artificial intelligence (AI) and super intelligence (SI) interchangeably. This is a notable shift from the company's initial filings, where the latter term was seldom mentioned. Anthropic's amended S1 filing also references the executive order from President Donald Trump that linked the two terminologies. 

Technically, AI and SI are different. AI refers to computer systems built to handle tasks that typically require human intelligence, such as creating text, identifying images, answering questions, and processing information. SI, on the other hand, describes a theoretical form of AI that would greatly surpass human intelligence. 

This change in the filing doesn’t mean Anthropic has developed AI that can surpass human intelligence. Rather, it is a nod to the executive order. But according to a recent assessment by METR, an independent AI-evaluation group, Anthropic’s AI models likely improved on tasks with clear success measures about twice as fast in October 2026 as they did between March 2024 and October 2025.

Let's take a closer look as Anthropic gears up for its public debut this month.

About the Anthropic IPO

Anthropic is an AI safety and research company that develops Claude, a family of advanced AI models. The firm focuses on building reliable, interpretable, and steerable AI while reducing potential risks.

Anthropic is eyeing a massive IPO, given its growing popularity. The company is set to offer 825 million shares in a $70 to $78 per-share price range. The soon-to-be historic Nasdaq debut is getting closer, and it won't be cheap. At the high end of the range, Anthropic’s IPO would raise $64.35 billion in net proceeds, setting the company’s overall value at a huge $1.4 trillion. Anthropic stock is expected to price between Nov. 18 and Nov. 19.

Anthropic has also secured an agreement with notable behemoths, such as AMD (AMD), Alphabet (GOOGL), Microsoft (MSFT), and Nvidia (NVDA), to purchase $26 billion of the company’s Class N common stock in a private placement at the IPO per-share price.

While investors were looking at a $2 trillion valuation until recently, expectations quickly turned a little bit more modest. This was due in part to the Democrats' win in the recent midterms, which made the market a bit edgy about the AI buildout potentially slowing down.

Coming just five months after SpaceX’s (SPCX) record-breaking IPO — which raised a massive $85.7 billion in proceeds — Anthropic has a lot to live up to. Although institutional interest is said to be higher in Anthropic than it was for SpaceX, the company is reportedly targeting about 20% in retail allocation, which is a much higher percentage than the typical IPO.

Where Does Anthropic Stand?

In its latest filing, Anthropic reported $33.24 billion in revenue for the first nine months of 2026, a huge leap from the $2.55 billion it reported in the prior-year period. Consumption-based and subscription-based revenue increased by $24.2 billion and $6.5 billion, respectively, as model and product releases drove higher usage.

The number of customers generating at least $100,000 in trailing-12-month (TTM) revenue rose from over 950 as of Sept. 30, 2025, to over 11,900 a year later. “Total revenue from these customers grew from $1.9 billion for the nine months ended September 30, 2025 to $24.5 billion for the nine months ended September 30, 2026 and represented approximately 75% and 74% of total revenue for the nine months ended September 30, 2025 and 2026, respectively,” Anthropic noted in the filing.

Of the risks stated in the filing, the biggest could be that, as models develop quickly, the company might not be able to implement adequate safety measures. That could lead to a range of implications, such as reputational harm and regulatory action. There’s also the risk of bottlenecks in the supply of computing power. In addition, Anthropic relies on a small number of companies — including SpaceX and Microsoft (MSFT) — and on distribution channels for a large portion of its revenue.

On the other hand, before its IPO, Anthropic launched two new AI models: Claude Fable 5.2 and Claude Mythos 5.2. As competition in the AI industry heats up, companies are rapidly releasing new models to attract customers.

On the date of publication, Anushka Dutta did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.