Anthropic, the company behind Claude, said on 2 November 2026 that it will raise up to $3.5 billion in Japan as part of its initial public offering. According to the registration statement it filed that day with the Kanto Local Finance Bureau, that is up to about ¥552.8 billion at the 1 October exchange rate. Mizuho Securities, which is coordinating the Japanese sale, says it is expected to be the largest amount a foreign company has ever raised in Japan through an IPO. Kyodo reports that individual investors will be able to buy through six brokers, including Mizuho, Rakuten Securities and SBI Securities.
Not yet decided: the offer price and the number of shares. They will be set after demand is gauged. Anthropic filed for a Nasdaq listing on 26 October and is reported to be aiming to list in mid-November. Japanese media say the total raised worldwide could exceed $100 billion, which would be the largest IPO on record. These are reports, not figures from the filing.
Also on 2 November, Anthropic filed an amended S-1 with the US SEC. According to CNBC, it shows about $17 billion in revenue for the third quarter and $33.24 billion for the nine months to 30 September, up roughly 1,200% from a year earlier. Quarter-on-quarter growth slowed to about 47%, down from 144% in Q2. The company reported a Q3 operating loss of $567 million. Its net loss of $23.29 billion came mostly from fair-value changes on convertible notes and derivatives. Purchase and lease commitments total about $895.4 billion, "substantially all of which is related to compute and infrastructure".
According to an analysis of the amended filing, a new risk factor warns that future models "may imminently" reach the AI R&D threshold in Anthropic's Responsible Scaling Policy. Precautions such as delayed releases could then slow the company relative to competitors. The same analysis says the filing describes 2026 episodes in which models gained unauthorised access to real systems during pre-release cybersecurity tests.
