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IPO: Anthropic officially files for its stock market debut, Tokyo stocks rise

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AT A GLANCE

Anthropic officially filed on 26 October its application for an initial public offering, according to TechCrunch. NHK reports that on the Tokyo Stock Exchange on 27 October, the Nikkei at times gained more than ¥1,400 after the publication of the listing documents of a US AI company.

Photo of the entrance of the Tokyo Stock Exchange building (archive photo)
Suicasmo · CC0
In this article

The essentials

According to TechCrunch, Anthropic officially filed its IPO application on Monday 26 October, after weeks of leaks about its S-1 document. The planned ticker is “ANT”; the article does not name the exchange. NHK reports that on the Tokyo Stock Exchange on 27 October, the publication of the documents of a US AI company eased concerns about funding in the sector and pushed the Nikkei up by more than ¥1,400 at times. NHK does not give the company’s name, but the timing suggests it is this filing.

The figures

According to TechCrunch, in the first half of 2026 revenue reached $16.3 billion, against $1.2 billion a year earlier. The operating loss is $693 million, against $2.1 billion in the first half of 2025. The net loss is $80.7 billion, largely because of non-cash accounting adjustments tied to convertible notes. The company writes that it “may not achieve or maintain profitability”.

Enterprise customers

At the end of September 2026, more than 11,900 customers spend at least $100,000 a year, 1,900 at least $1 million and about 250 at least $10 million.

Governance

The seven co-founders (Dario Amodei, Daniela Amodei, Tom Brown, Jack Clark, Jared Kaplan, Sam McCandlish and Christopher Olah) will form a “Founder LLC” that will control 50.1% of the voting rights, which Anthropic presents as a way to preserve its AI-safety mission. The Long-Term Benefit Trust, created in 2023, will be able to appoint a majority of the board. Because voting rights are not proportional to economic share, future shareholders will have little real control, a point the article calls controversial.

What we do not know yet

The articles consulted do not give the amount sought, the share price, the valuation, the exchange, the banks handling the operation, the use of the funds, or the listing date. NHK gives neither the company’s name nor the Nikkei’s close.

LANGUAGE NOTES

Learn the grammar

Explained in English

French grammar

Learn sentence patterns and usage from the article’s own sentences.

01The present indicative
Structure

est / sont + attribute (noun, adjective, prepositional phrase)

In the article
La perte d’exploitation est de 693 millions de dollars, contre 2,1 milliards au premier semestre 2025.
Key points

Être in the present is est for a singular subject and sont for a plural one. It describes nature, state or place (“is”, “is located”). If what follows (the attribute) is a noun, adjective or prepositional phrase, it is not a passive. If a past participle follows, it is a passive (est annoncé). Headlines and summaries often use the present to describe the current situation.

02The passé composé
Structure

present of avoir + past participle

In the article
NHK rapporte qu’à la Bourse de Tokyo, le 27 octobre, le Nikkei a gagné par moments plus de 1 400 yens après la publication des documents d’introduction d’une entreprise américaine d’IA.
Key points

The passé composé is the most common past tense, used for “did” and “has done” — actions completed in the past. It is formed with the auxiliary avoir (a / ont…) in the present + a past participle. Past participles of -er verbs end in -é (annoncer → annoncé); learn the irregular ones (faire → fait, prendre → pris, voir → vu). In the negative, ne … pas wraps the auxiliary (n’a pas annoncé). In the news it reports facts that have already happened, such as “announced” or “voted”.

03The futur simple
Structure

stem (infinitive) + -ai / -as / -a / -ons / -ez / -ont

In the article
Le Long-Term Benefit Trust, créé en 2023, pourra nommer la majorité du conseil.
Key points

The futur simple means “will do” or “is planned to”. Add -ai, -as, -a, -ons, -ez, -ont to the infinitive (participer → il participera). Watch the irregular stems: être → ser-, avoir → aur-, aller → ir-, faire → fer-, pouvoir → pourr-, voir → verr-. In the news it is used for fixed plans and outlooks.

04The present conditional
Structure

stem (infinitive) + -ais / -ait / -ions / -iez / -aient

In the article
L’entreprise écrit qu’elle « pourrait ne pas atteindre ou maintenir la rentabilité ».
Key points

The conditional expresses possibility, supposition, unconfirmed information and polite requests (“would”, “might”). It uses the same stem as the future and the same endings as the imparfait (-ais, -ait, -ions, -iez, -aient): pouvoir → il pourrait. In the news it is used to avoid asserting, as in “is reported to…” or “there is a possibility…”.

05Pronominal verbs
Structure

se / s’ + verb

In the article
NHK ne donne pas le nom de l’entreprise, mais le moment laisse penser qu’il s’agit de ce dossier.
Key points

A pronominal verb is used with a reflexive pronoun (me, te, se, nous, vous) before the verb. It can mean “do to oneself”, “be done” or “do to each other”. In the news, se traduire (to result in), se tenir (to take place), s’agir de (to be a matter of) and se diffuser (to spread) are frequent. The pronoun changes with the subject (il se tient / ils se tiennent / je me souviens).

06Negation and its scope
Structure

ne / n’ … pas · ne … plus

In the article
Le symbole prévu est « ANT » ; l’article ne nomme pas la place boursière.
Key points

Normally ne and pas wrap the verb. Before a vowel, ne becomes n’. Check which part of the sentence the negation covers. Ne … plus means “no longer”.

07Citing a source with selon
Structure

selon + noun / organisation

In the article
Anthropic a officiellement déposé le 26 octobre sa demande d’introduction en Bourse, selon TechCrunch.
Key points

Selon means “according to”. Put a person or organisation after it as the source. It separates facts the writer checked directly from what another body or report said. Citing a source does not turn a forecast into an accomplished fact.

08Pouvoir: ability and possibility
Structure

peut / peuvent / pourrait + infinitive

In the article
L’entreprise écrit qu’elle « pourrait ne pas atteindre ou maintenir la rentabilité ».
Key points

Put a base-form verb after pouvoir. Peut means “can” or “may”; the conditional pourrait gives a more reserved possibility, “might”. It does not necessarily mean implementation is settled.

09Expressing a plan or a deadline
Structure

être prévu / prévoir / être envisagé

In the article
Le symbole prévu est « ANT » ; l’article ne nomme pas la place boursière.
Key points

Prévoir means “to plan, to expect”. Être prévu means “to be scheduled” and être envisagé means “to be under consideration”. In the news, read them separately from expressions that describe events that have already happened. They do not say that the event has already taken place.

10The construction il s’agit de
Structure

il s’agit de + noun / infinitive

In the article
NHK ne donne pas le nom de l’entreprise, mais le moment laisse penser qu’il s’agit de ce dossier.
Key points

It explains what something is about: “it is a matter of…”. The il is not a particular man but a formal subject of this construction. The negative il ne s’agit pas de means “this is not about…”.

Explained in English

Japanese grammar

Understand the structure and usage from the text.

01Citing a source: によると
Structure

noun + によると

In the article
TechCrunchによると、アンソロピックは、10月26日(月)に、上場(IPO)を正式に申請しました。
Key points

As in “LCPによると”, it shows where the information comes from. What that source reported follows. It is used differently from “私にとって”, which gives one’s own opinion.

02Plan, outlook and policy
Structure

〜の予定 / 〜見込み / 〜方針

In the article
株式の記号は「ANT」の予定で、どの取引所かは、記事に書かれていません。
Key points

予定 is a plan, 見込み a forecast and 方針 a course of action or intention. None of them asserts that something has already been carried out. Note the difference from expressions such as “決まりました”.

03Expressing a possibility
Structure

〜可能性がある / 〜かもしれない

In the article
会社は、「今後、利益を出せない、または続けられないかもしれない」と、書いています。
Key points

These forms say something may happen. Even when “possibility” is written, it does not mean it will certainly happen. Check whose forecast it is, plus the time and conditions.

04Indicating the subject: について
Structure

noun + について

In the article
NHKは、27日の東京株式市場について、「アメリカのAI開発企業が、上場に向けた書類を公表した」ことで、AI業界の資金調達への心配が和らぎ、日経平均株価が、一時、1400円以上、上がったと、伝えています。
Key points

As in “予算について”, it shows the topic to be talked about or explained. In the form “〜についての報道”, の is added so that the group qualifies the following noun.

05Cause or purpose with ため
Structure

〜ため / 〜ために

In the article
会社は、これを、AIの安全という使命を守るためだと説明しています。
Key points

ため is used for both reason and purpose. “成立ではないため” is a reason and “運転手を守るため” a purpose. Decide from the whole sentence whether what precedes is a cause or a goal.

06The polite past ました
Structure

verb stem (連用形) + ました

In the article
米国のAI企業アンソロピック(Anthropic)が、26日、株式の上場を正式に申請したと、TechCrunchが伝えました。
Key points

In “発表しました”, ました makes a verb polite past. The negative is “ませんでした”. Read the actual date together with the date and time in the text.

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