Anthropic is warning prospective investors that the same AI technology driving its growth could also pose “catastrophic or existential risks to humanity.”
The warning appears in the company’s IPO prospectus reviewed by Reuters, which devotes about 80 pages to potential risks from increasingly capable AI systems — including models that could resist shutdown, conceal information or behave in manipulative ways.
The filing also exposes the scale of Anthropic’s spending. The company posted an operating loss of about $8.1 billion in 2025, while its net loss reached nearly $42 billion, largely because of a major accounting charge tied to earlier financing.
Anthropic is preparing for a public listing that could value the company at more than $2 trillion, putting investors in the unusual position of weighing enormous growth expectations against warnings from the company itself about the technology’s potential dangers.





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