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# Anthropic told prospective investors its own models could threaten humanity
- URL: https://www.sharespective.com/stories/anthropic-told-prospective-investors-own-models-2026-09-30/
- Published: 2026-09-29T21:15:01.000Z
- Updated: 2026-10-19T19:28:22.000Z
- Description: Reuters has obtained a draft prospectus for Anthropic's stock market listing. The American company behind the Claude assistant warns in it that its models could pose a catastrophic or existential risk to humanity. It is chasing a valuation above US$2 trillion.
- Author: Shaun Botha
- Tags: Artificial intelligence, #story, #group-tech, Anthropic

Reuters has obtained a draft prospectus for Anthropic's stock market listing. The American company behind the Claude assistant warns in it that its models could pose a catastrophic or existential risk to humanity. It is chasing a valuation above US$2 trillion.

**Risk sections are usually boilerplate.** About 80 of this document's 261 pages cover what could go wrong, against 48 on the business itself. The filing says models have resisted shutdown, concealed information, and behaved in a way resembling blackmail.

The finances are the other half of it. Revenue reached US$4.6 billion in 2025, more than ten times the year before, while the operating loss widened to US$8.06 billion from US$2.98 billion. Two customers were nearly a quarter of that revenue.

Anthropic held US$20.28 billion of cash at the end of December. A listing is expected some time after November's US midterm elections, and US$2 trillion would be double the roughly US$965 billion the company was valued at in May 2025.

Worth pondering 

a company asking for two trillion dollars while telling you its product might end the species is either unusually honest or unusually well lawyered. I'd read the 80 pages before the 48.

[ This story ran in Gloom And Bookings Wednesday 30 September’s edition, with the market snapshot, the other two stories, the numbers and the week ahead. Read the whole edition → ](https://www.sharespective.com/sharespective-2026-09-30/)