Quick read of Anthropic's prospectus: five co-founders sold shares, and the company isn't raising a single cent?

Anthropic filed an S-1 prospectus with the U.S. SEC on October 26 Beijing time, and is expected to list on Nasdaq under the ticker ANT. Goldman Sachs and Morgan Stanley are lead underwriters; five co-founders are listed as selling shareholders, and the company will not receive their sale proceeds; the number of shares offered and the price range are left blank. The prospectus shows that in the first half of 2026, operating loss was 693 million USD rather than the circulated 8.7 billion USD, narrowing by 67.5% year over year; as of June 30, cash and short-term investments totaled 131.651 billion USD; as of September 30, net revenue retention was about 900%; quarter-over-quarter revenue growth slowed from 132% to 45%. The prospectus also discloses large compute commitments flowing to Microsoft, Google, Amazon and other institutions, and that a long-term benefit trust and the seven co-founders' Founder LLC hold majority voting power; the risk factors section states that advanced AI may pose catastrophic or existential risks to humanity, but does not disclose specific spending on safety research.