Anthropic tells IPO investors US government actions could hit its business

Anthropic has warned that the US government’s view of the company could hurt its ties with business customers and partners as well as its government work.

The warning is in the AI firm’s IPO prospectus, which Reuters reported on Friday after seeing the document.

The prospectus has not been made public, and TNW has not seen it. According to Reuters, the filing says government deals account for less than 1% of Anthropic’s annual revenue.

Many firms flag policy risks before they list. SpaceX, for example, warned in its own IPO filing that weaker ties with US agencies could cost it contracts.

Anthropic’s warning goes further, Reuters reported, because it suggests Washington’s opinion could spill into the rest of its business.

The filing points to several clashes with Washington in the past year. It says the president told federal agencies to stop using Anthropic’s models in February, and that the Pentagon named the company a supply-chain risk.

Anthropic fought that label in court, and a judge temporarily blocked it in March.

“The company may experience material revenue losses or business disruptions attributable to these events,” the filing said, according to Reuters.

The filing also cites the export controls that the US Commerce Department put on Fable 5 and Mythos 5, Anthropic’s top models, in June.

To comply, Anthropic disabled both models for all customers on 12 June, then restored access on 1 July after the department lifted the controls.

Anthropic warned that such steps could happen again. If they do, it said, it could suffer serious damage to its name with customers, partners, staff and investors, whatever the final result.

The same filing has already shown that Broadcom will lend Anthropic $42bn to lease its chips. It also warns that advanced AI could pose catastrophic or existential risks to humanity. Reuters said the listing could value Anthropic at up to $2tn.

Chief executive Dario Amodei had dinner with President Donald Trump last Sunday, Reuters reported. The Federal Trade Commission is also looking into AI firms, including Anthropic, as part of an industry-wide probe.