Anthropic completed a 1-for-1,000 reverse split of its Class T common stock, covering both the authorized and the issued shares. These shares are held exclusively by the Long-Term Benefit Trust, which plays a significant role in appointing members of the board, although its relative influence remains unchanged. The transaction, which does not alter shareholder percentages or financial results, comes as the company reportedly prepares for an IPO in November 2026. According to the preparatory documents, Anthropic generated quarterly revenue of $16.8 billion in the third quarter of 2026, up 45%, and recorded non-cash losses of $80.7 billion in the first half.
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