The company is widely expected to debut with a market valuation of $2 trillion or more, making it the largest stock listing in history.
One of the most significant risks to that ability is Anthropic's access to the infrastructure, including computer chips and data centres, it needs to build, train and operate the models that underpin its technology.
Every public company has to tell potential investors how things could go wrong, and that information sat alongside the many purported benefits of the technology.
That level of concentration leaves Anthropic dependent on a small fraction of its paying customers to support its growth.
Anthropic's costs could rise as it faces fierce competition for top staff and computing power from other AI giants.
Artificial intelligence firm Anthropic released the required paperwork ahead of its long-anticipated debut on the US stock market.
Anthropic also detailed the risks posed by its technology, including how it could take human lives.
Anthropic’s IPO prospectus is 355 pages and full of never before disclosed company information. Anthropic has yet to disclose a target share price for its stock listing.
Anthropic lost $80.7bn (£60bn) in the first half of this year, double what it lost across 2025 altogether.