Anthropic, the maker of the Claude chatbot, plans to tell prospective investors in its IPO prospectus that souring public opinion on artificial intelligence is a genuine risk to its business, according to people familiar with the matter cited by CNBC.

The disclosure would make negative sentiment toward AI and data-center construction a formal "key risk factor" in the filing, an unusually candid admission from a company at the center of one of the most anticipated stock listings in years. Gizmodo reported the same warning in a follow-up story a day later; Anthropic did not respond to its request for comment.

A landmark listing in the making

Anthropic confidentially filed its S-1 registration with the Securities and Exchange Commission on June 1, 2026, and is targeting a Nasdaq listing in September or early October — putting it ahead of rival OpenAI, which has signaled a 2027 IPO. The company's most recent private valuation stood at $965 billion, set during a roughly $65 billion Series H-1 round that closed in late May. Some investors are now discussing a public valuation north of $2 trillion, and at least one backer has floated a figure above $3 trillion given the company's growth.

Anthropic's annualized revenue run rate has topped $47 billion, up from about $10 billion in total revenue for all of 2025, and several backers expect that figure to reach $100 billion to $120 billion by year's end. Chief Financial Officer Krishna Rao has been leading early "test-the-waters" meetings with prospective investors in San Francisco, fielding questions on competition and margin pressure from open-source models but not yet discussing specific financials or a valuation target.

SEVEN IN TEN AMERICANS OPPOSE NEW AI DATA CENTERS BEING BUILT NEAR THEM

The risk-factor language reflects a broader shift in public mood: a Gallup survey published in May 2026 found seven in ten Americans oppose AI data-center construction in their communities, with nearly half strongly opposed. Reporting has also pointed to organized political campaigns against AI projects and protests at data-center sites as evidence the backlash could translate into real delays — a material concern for a company whose revenue depends on rapidly expanding compute capacity.

The full S-1 prospectus, including final risk-factor language, share pricing and a firm listing date, is expected in the coming weeks as Anthropic moves toward its targeted fall debut.