Anthropic filed for an IPO with the SEC on October 26 and later submitted an amended S-1 on November 2 with full third-quarter operating data. The company, founded in 2021 by former OpenAI researchers, has built a business around enterprise AI models, agent tooling, and cloud distribution. Its revenue has surged rapidly, with improving adjusted profitability, while compute spending remains a major cost. The filing highlights a capital-compute-data-model flywheel and a path toward sustained commercialization.