AI Giant Anthropic Flags Risk of Catastrophic Incident in IPO Paperwork -- WSJ

By WSJ Staff

Anthropic, one of the biggest names in artificial intelligence and the maker of Claude, is moving ahead with its blockbuster initial public offering as early as the week before Thanksgiving.

Paperwork for the IPO has just been made public, and the filing, known as an S-1, gives us a look at its strategy, finances and tightly controlled structure.

Anthropic, planning to trade on the Nasdaq exchange under the ticker ANT, remained tight-lipped about its targeted valuation, which could set a new record. It did dedicate 94 pages to discussing risk factors, including a "catastrophic AI-related incident" so large that it couldn't get insurance to cover the potential damages.

Follow along as we break down what else the filing reveals.

Tech stocks have jumped, with investors seemingly setting aside the AI jitters that plagued some stocks earlier in the session. In Brazil, stocks tumbled and the real slid against the dollar after President Luiz Inacio Lula da Silva unexpectedly won re-election last night. Oil prices are slipping.

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October 26, 2026 12:10 ET (16:10 GMT)