Anthropic (NASDAQ:ANTP) warned that government actions and perceptions of the company and its artificial intelligence technology could affect its broader commercial relationships, according to its initial public offering prospectus reviewed by Reuters.
The company said potential effects could extend beyond government contracts to relationships with customers, partners, employees and investors. Anthropic said government agency contracts currently account for less than 1% of its annual revenue.
Companies that work with government agencies commonly identify policy and regulatory changes as business risks. Anthropic’s filing also addresses potential effects on its non-government commercial relationships.
The prospectus separately discusses risks associated with increasingly capable artificial intelligence systems, warning that advanced AI could pose “catastrophic or existential risks to humanity.”
The disclosure comes as Anthropic prepares for a potential IPO that, according to the supplied information, could value the company at as much as $2 trillion.
Anthropic Details U.S. Government Actions
Anthropic cited several interactions with the U.S. government during the past year as examples of government measures that could affect its operations.
According to the filing, the president directed federal agencies in February to stop using Anthropic’s models, while the U.S. Department of Defense designated the company a supply-chain risk to national security.
“The company may experience material revenue losses or business disruptions attributable to these events,” Anthropic said.
The filing also said the U.S. Department of Commerce imposed worldwide export restrictions on Anthropic’s Fable 5 and Mythos 5 models in June. Anthropic subsequently disabled the models for all customers to comply with the restrictions.
The Commerce Department later removed the restrictions and Anthropic redeployed the models. However, the company said similar government actions could occur in the future.
Anthropic said such measures could cause “significant reputational harm, including adverse media coverage, public scrutiny, and negative perceptions among existing and prospective customers, partners, employees, and investors,” irrespective of the eventual outcome.
The company also identified changes in government perceptions of Anthropic or its technology as an additional risk associated with selling to public-sector agencies.
AI Regulation and Safety Remain in Focus
Anthropic Chief Executive Dario Amodei has publicly called for the AI industry to slow the pace of development amid concerns about the risks associated with increasingly capable artificial intelligence systems, according to the supplied information.
Amodei met U.S. President Donald Trump for dinner last Sunday as debate over AI regulation continued. Reuters also reported that the Federal Trade Commission is conducting an industry-wide investigation involving AI companies, including Anthropic.
The prospectus disclosures describe potential risks rather than established future financial effects. Anthropic did not quantify any expected impact on commercial customer or partner relationships in the supplied information.