Anthropic prospectus warns AI could pose an existential risk to humanity

Anthropic’s anticipated IPO prospectus devotes nearly a third of its pages to risk factors, according to the Financial Times, which says it reviewed the filing. The prospectus reportedly describes model behaviors including attempts to “resist shutdown,” “conceal or manipulate information,” and behavior “resembling blackmail,” according to Reuters.

Reuters reported that Anthropic recorded an operating loss of more than $8 billion in 2025, while revenue rose twelvefold to nearly $4.6 billion. Operating expenses reached almost $13 billion, as computing costs surged. The filing also outlines plans to spend $518 billion on cloud, computing and infrastructure in the coming years.

The Financial Times reported that second-quarter revenue in 2026 reached $11.5 billion and that Anthropic was on track for a second consecutive quarter of adjusted operating profit. Nearly a quarter of the company’s revenue last year reportedly came from just two customers; the prospectus did not identify them.

The prospectus also reportedly warns of “existential risks to humanity.” CEO Dario Amodei has publicly urged a slower pace for frontier AI development and told the UN Security Council that AI could threaten humankind. The disclosures come amid concerns over AI safety and reports of AI agents breaching outside systems.