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The documentS–1Anthropic, PBC26 OCT 2026 · 421 PP.
01The original SEC filingThe authoritative source, in your browser.SEC · HTML 02Download the saved filingThe complete 421-page document, optimized for downloading.PDF · 46 MB 03Download the full researchFindings, customer examples, calculations, and source references.Markdown

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We already have active collaborations on
epidemiological modeling for malaria and other
diseases in Africa. For example, during the 2026
Ebola outbreak in the Democratic Republic of the
Congo, the WHO’s Regional Office for Africa used
Claude to cut the time needed to prepare its daily
situation report from a full day to under an hour,
allowing its team to run several disease models
instead of one when deciding where to place
treatment centers. With the Gates Foundation, we
are helping health ministries use their data to
deploy health workers, manage supply chains, and
detect outbreaks, and we support free AI-powered
clinical search for doctors in roughly 100 low- and
middle-income countries, from Uganda to Haiti to
Mongolia. With the International Rescue
Committee, we are exploring how Claude can be
used to digitize and analyze children’s health
records in Nigeria, helping workers identify
children at risk of malnutrition and make limited
resources go further. More broadly, AI can help to
strengthen markets where they are currently
weak. Mobile phones did this in the developing
world in the 2000s, giving people access to critical
information on prices that allowed trade to flow.
AI could do the same for experttise, giving anyone
access to the knowledge and skills of a lawyer, an
accountant, or an agronomist, improving
economic efficiency and accelerating growth
across the world.

Fourth, AI could raise the quality of government
services and build technological state capacity.
Tax authorities, social services, medical programs,
planning and permitting—these and similar
functions are often frustrating for citizens to
interact with, and they could all be radically
improved and modernized with sufficiently
powerful AI. We already work with the U.S. federal
government, many state governments, and U.S.
allies in areas such as child services, social
security administration, cybersecurity, and
intelligence collection. In Utah, developers across
ten state agencies are using Claude to modernize
the software behind public services; in California,

Claude is helping to shorten the lines at the DMV
and to better serve people on Medicaid. In the
United Kingdom, it is helping job seekers find their
way through government services. Similarly, Al can
be used to promote and strengthen democracies
and bend the arc of geopolitical history in the
direction of freedom, by helping democratic
governments deliver on their promises to citizens,
defending democratic institutions against
cyberattacks and foreign interference, and ensuring
that free societies lead in the world’s most powerful
technology.

These are far from the only applications of AI, but
they illustrate the remarkable potential of the
technology to build a better world. Alongside our
customers, we intend to apply our AI models to
revolutionize these and dozens of other areas of
human endeavor. Doing so may well represent the
greatest economic opportunity in history.

Al’s risks

To build Al is to harness cognition itself, and anything
so powerful can be used for ill as well as good.
Anthropic is a deeply values-driven organization,
founded in large part to help the world realize AI’s
benefits and avoid its dangers.

This page includes text transcribed from an image. Check the original for tables, images, and exact formatting.

Find a section 16 starting points

Section links may begin before the exact paragraph cited in a finding. PDF numbers below use physical pages.

  1. Founders’ letterp. 3SEC
  2. Defined termsp. 12SEC
  3. Prospectus summaryp. 16SEC
  4. Risk factorsp. 38SEC
  5. Management’s discussion & analysisp. 144SEC
  6. Businessp. 190SEC
  7. Governancep. 254SEC
  8. Executive compensationp. 275SEC
  9. Related-person transactionsp. 293SEC
  10. Principal & selling stockholdersp. 299SEC
  11. Capital-stock rightsp. 303SEC
  12. Shares eligible for future salep. 318SEC
  13. Underwritingp. 327SEC
  14. Auditor change & expertsp. 345SEC
  15. Financial statements & notesp. 347SEC
  16. Part II & exhibit indexp. 413SEC

How this was made

Read in full.
Kept in context.

A snapshot of the filing dated , rather than a live record of later events.

3primary reviewers
421pages reviewed
43image instances checked

The review

Three primary reviewers read non-overlapping ranges of the complete main filing. All 43 embedded image instances were transcribed and visually reviewed, including the founders’ letter, charts, and customer case studies. Financial tables were also checked visually for dates, units, and column alignment.

A separate reviewer checked the draft’s calculations, accounting interpretations, and customer qualifications. An additional check covered the later merged findings. The result is 62 findings and 21 customer examples.

The boundary

Companion contracts and other exhibits named in the filing’s index are separate documents and were not independently reviewed. Customer outcomes, technical benchmarks, forecasts, and scientific priority claims remain attributed company or customer disclosures.

The numbers

Dollar figures are U.S. dollars. H1 means the six months ended June 30; Q2 means the three months ended June 30. The 2026 interim financial statements are unaudited. Our calculations show their inputs and are labeled separately from reported values.

Blank fields stay undisclosed. Figures with different periods, conditions, or potentially overlapping scopes are kept separate. An earlier tender price is not an IPO price.

What the evidence labels mean
Reported in filing
A company disclosure, with the period and accounting basis retained.
Company estimate / company claim
An estimate or assertion attributed to the company, with its uncertainty preserved.
Our calculation
A derived figure using cited inputs. It is not a separately reported company metric.
Customer example
A selected case study, with its measurement limits. It is not representative ROI.
Proposed / conditional
A status qualifier for an arrangement that is not yet effective or depends on stated conditions.

About updates. This edition is tied to the October 26, 2026 filing. Any later revision should identify its new source date and preserve the basis of earlier claims.

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A closer look at the filing

Anthropic · Form S-1PDF 1

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Filed October 26, 2026. PDF is approximately 46 MB and opens only when requested. Section links may precede the exact cited paragraph.