Anthropic Form S-1 注册声明核心摘录

For the first time in history, intelligence is something humans can build. The cognitive capability to reason, analyze, synthesize, decide, and create is producible at scale and accessible on demand.

有史以来第一次，智能成为了人类能够亲手制造的要素。进行推理、分析、综合、决策和创造的认知能力，如今能够进行规模化生产，并按需即取。

We believe this abundance of AI will rapidly transform every sector of the global economy in ways greater than the impact of industrialization, electricity, semiconductors, and the internet.

我们坚信，这种 AI 智能的充沛供给将迅速改变全球经济的每一个领域，其影响将超越工业化、电力、半导体和互联网的变革广度与深度。

AI that truly delivers on its potential—with the risks well managed—could significantly accelerate global growth and dramatically improve quality of life for people around the world.

真正释放其潜力、且风险得到妥善管理的 AI，能够显著加速全球经济增长，并从根本上大幅提高全世界人民的生活质量。

Anthropic was founded in 2021 by a team of researchers responsible for many of the breakthroughs that define AI.

Anthropic 于 2021 年创立，创始团队曾亲手缔造了定义当今人工智能的一系列里程碑式突破。

We are first and foremost a research lab—our mission is the responsible development and maintenance of advanced AI for the long-term benefit of humanity.

我们首先是一家研究实验室——我们的核心使命，是为全人类的长远福祉，负责任地开发并维护先进的通用人工智能。

This mission directs our focus—along with our talent and culture, our frontier and safety research, our approach to compute, and our enterprise strategy, it is one of the core advantages that set us apart.

这一崇高使命指引着我们的专注方向——结合我们的一流人才与文化、前沿探索与对齐安全研究、算力调度策略以及企业级战略，构成了使我们脱颖而出的核心护城河优势。

These advantages enable us to continuously advance frontier AI and shape the standards for its safe and responsible development. Our frontier AI, Claude, is delivered to customers through our models, platform, and applications.

这些优势使我们能够持续推进前沿 AI 技术，并建立起行业内安全与负责任开发的技术标准。我们的旗舰前沿 AI —— Claude，正通过基础模型、开发者平台和终端应用等多元形态交付给全球客户。

Claude has experienced the fastest enterprise adoption of any technology in history, as demonstrated by revenue growing from $0 at commercial launch in the first quarter of 2023 to $______ for the three months ended September 30, 2026.

Claude 经历了人类历史上所有技术类别中最快的企业级落地采纳速度——营收从 2023 年第一季度商业化发布时的 0 美元，飞速跃升至截至 2026 年 9 月 30 日止三个月的 $______ 美元。

This rapid and growing adoption generates two self-reinforcing dynamics—an improvement loop that advances Claude and an investment loop that helps fund our continued research in frontier AI.

这种迅猛且日益增长的采纳规模，激发了两个相互强化的飞轮机制：一个推动 Claude 自身能力不断迭代进化的“改进闭环”（Improvement Loop），以及一个源源不断为前沿基础研究提供充沛资金的“投资闭环”（Investment Loop）。

Mission & Focus. All of our efforts are guided by a singular focus on our mission. This focus enables us to concentrate talent, research, and compute investment on the highest-value work for humanity and to avoid conflicting priorities.

使命与专注。我们所有的努力均由对使命的专一专注所指引。这种聚焦使我们能够将顶尖人才、研发攻坚和庞大算力投资，高密度倾注在对人类最具长期价值的事项上，彻底避免多线冲突的杂乱优先级。

Achieving our mission means the world gains the enormous benefits of frontier AI while mitigating the most significant risks, and we believe this requires safety and capability to advance together.

达成这一使命，意味着全世界能在充分享受前沿 AI 巨大红利的同时，有效化解最具毁灭性的潜在风险。我们深信，安全对齐与模型能力必须并驾齐驱、同步演进。

Talent & Culture. Our mission and focus enable us to attract and retain world-class talent, including researchers and engineers who want their work to shape a better future.

人才与文化。崇高的使命与专注的环境，使我们能够吸引并保留全球最顶尖的人才梯队，包括那些渴望通过自身智力成果亲手塑造人类更美好未来的研究学者与工程师。

We also have a culture that promotes a low-ego, truth-seeking environment, where frontier AI capability and safety are mutually reinforcing. We believe our culture has driven our talent density as we have scaled.

我们培育并坚守一种低自尊偏见（Low-ego）、求真务实的团队文化，在这里，前沿 AI 能力探索与安全研究相互促进。随着规模扩张，这种文化正是维持高人才密度的基石。

Frontier & Safety Research. We believe that sustained, focused research at the frontier of intelligence is required to build the most capable and safest AI systems.

前沿与安全研究。我们坚信，唯有在智能最前沿保持长期、专注的深度研究，才能构建出最强大、最安全的 AI 系统。

Our frontier capabilities and safety research are deeply integrated and directly shape model design, training, and deployment, helping us produce systems that are more reliable, steerable, and well-suited for real-world deployment, particularly in demanding enterprise environments.

我们把前沿能力与安全对齐深度融合，直接指导从模型架构设计、训练到工程部署的全流程，从而产出更具可靠性、更高可控引导性（Steerable）、更适合高标准生产部署（尤其是严苛企业级环境）的稳健系统。

We translate our research leadership into innovation velocity, and have consistently released better models, platform capabilities, and applications. Each version of a Claude model assists in building the next, helping to compress development timelines and produce compounding improvements in the speed at which we innovate.

我们将顶尖科研实力转化为惊人的创新速度，持续交付更卓越的模型、平台功能和工具。每一代 Claude 模型都在协助构筑与提炼下一代模型，成倍压缩研发周期，使我们的创新迭代速度呈现出指数级的复利式增长。

We refer to this recursive dynamic as “closing the loop,” and we believe it is one of the most significant structural advantages in frontier AI.

我们把这种自我递归的进化机制称为“闭环”（Closing the loop）。我们深信，这是整个前沿人工智能领域最重大的结构性护城河之一。

Our Approach to Compute. We manage compute as a single, fungible pool from multiple strategic partners, and we dynamically direct available compute between workloads based on where the marginal unit is expected to be most productive at any given time.

我们的算力策略。我们将来自多家战略合作伙伴的算力资源，统一抽象并管理为一个单一、具备高度可替代性（Fungible）的综合算力池。我们根据各单位边际算力在任意时刻预期产生的最高产出价值，在不同负载间进行毫秒级动态调度。

We believe that this approach to compute enables us to deliver superior models, serve more customers, and achieve greater productivity from our compute investment.

我们确信，这种高弹性算力架构使我们能够交付性能更卓越的基座模型、承接并服务更广泛的全球客户群，并从每一笔庞大的算力资本开支中榨取最高的生产力回报。

This compute efficiency creates the foundation for us to advance the frontier of AI capabilities through research and model development, meet growing demand from customers, and provide for internal usage of Claude.

极致的算力效率构筑了坚实根基，支撑我们通过前沿探索与模型研发持续刷新 AI 上限、从容承接客户爆发式的调用需求，并满足我们内部对 Claude 自主迭代的巨量调用。

We have achieved this through our research breakthroughs and our multi-chip compute architecture across AWS Trainium, Google TPUs, NVIDIA GPUs, and AMD GPUs, enabling us to orchestrate workloads to optimize for price and performance.

我们通过算法突破与多芯片底层计算架构，全面打通并横跨了 AWS Trainium、Google TPU、NVIDIA GPU 以及 AMD GPU。这使我们能够全局编排多样化负载，在极致性价比与计算吞吐间实现最优平衡。

To support our research, model development, customer demand, and internal usage of Claude, we continue to invest at scale. As of and subsequent to September 30, 2026, we have entered into purchase commitments and lease agreements, including short-term commitments, as well as leases not yet commenced, with an aggregate committed spend of more than $______, substantially all of which is related to compute and infrastructure.

为了持续支撑尖端研发、基座训练、客户商用以及公司内部对 Claude 的海量调用，我们将坚定进行超大规模算力投入。截至 2026 年 9 月 30 日及后续，我们已累计签署了采购承诺与基础设施租赁协议（含短期承诺与待生效租赁），已承诺的总资本支出超过 $______ 美元，其中绝大部分直接对应于尖端算力集群与云端基础设施。

These commitments include approximately $______ expected to be incurred before December 31, 2030, and substantially all of the remainder is expected to be incurred between 2031 and 2045. Approximately $______ of these commitments are due in the next 12 months.

这些长期算力承诺中，约有 $______ 美元预计将在 2030 年 12 月 31 日前发生，其余绝大部分预计将在 2031 年至 2045 年之间履约。其中约有 $______ 美元将在未来 12 个月内陆续到期支付。

Enterprise Strategy. Our enterprise strategy is built on the belief that frontier AI is most valuable in real-world settings, as deployment across enterprises is where economic impact is greatest and where the improvement loops from customer feedback are richest.

企业级战略。我们的战略基石在于坚信：前沿 AI 最大的价值在于扎根真实的现实世界。正是企业级部署创造了最深远的宏观经济价值，同时也为我们提供了最真实、最丰富、最宝贵的模型反馈飞轮。

Accordingly, we have organized our research priorities, our product roadmap, and our go-to-market and Applied AI teams around enterprise use cases, which range from routine knowledge work to the most complex problems.

因此，我们紧紧围绕企业实际应用场景，统筹重塑了研发优先级、产品演进路线图，以及市场拓展团队（GTM）与应用 AI 工程团队（Applied AI）的协作体系，场景跨度从日常高频的知识工作直至攻克最具挑战性的复杂业务难题。

The customer feedback we gather directs our research focus and makes Claude more capable over time. This broadens where Claude can be deployed and further expands enterprise adoption, which helps ensure that the benefits of our AI reach people and organizations at scale.

我们从企业客户现场汲取的真切反馈，反向指引着科研攻坚重心，让 Claude 随着岁月沉淀变得愈发强大和精准。这进一步拓宽了 Claude 在各行各业的落地版图，加速企业级普及，最终确保我们的 AI 成果能够广泛、安全地惠及海量机构与大众。

We have a novel capital and corporate governance structure. We are incorporated as a public benefit corporation under Delaware law, a structure consistent with our commitment to artificial intelligence (“AI”) safety and responsibility.

我们拥有独创的资本与公司治理架构。我们依据美国特拉华州法律注册为公共利益公司（Public Benefit Corporation, 简称 PBC），该法律架构从根本上保障了我们对人工智能安全性与负责任发展的长期使命承诺。

As a public benefit corporation, we are required to balance the pecuniary interests of our stockholders, the best interests of those materially affected by our conduct, and the specific public benefit purpose identified in our amended and restated certificate of incorporation: the responsible development and maintenance of advanced AI for the long-term benefit of humanity.

作为 PBC，法律要求我们必须在三大支柱之间严格取得平衡：① 股东的商业金钱回报、② 受到我们行动实质影响之公众群体的最佳利益、以及 ③ 公司章程中明确规定的崇高公共利益宗旨——即为人类的长远福祉，负责任地开发并维护先进的人工智能。

We created our Long-Term Benefit Trust (the “LTBT”) to help ensure that Anthropic, PBC is managed in a manner that responsibly balances its goals as a public benefit corporation. The LTBT is intended to operate as an independent body of financially disinterested trustees with expertise in AI safety, national security, public policy, and social enterprise.

我们设立了长期利益信托（Long-Term Benefit Trust, 简称 LTBT），确保公司在治理运作中始终恪守公共利益宗旨。LTBT 作为完全独立的受托机构运作，受托人没有任何经济金钱利益牵绊（Financially disinterested），均由在 AI 安全、国家安全、公共政策及社会治理领域的顶尖独立专家出任。

Through a special class of common stock, Class T common stock, the LTBT generally has the authority to elect and remove the Class T directors, who together will constitute a majority of the authorized members of our board of directors. Our Class T common stock does not otherwise have voting rights with respect to matters submitted to stockholders generally and has no economic rights.

通过专设的特殊股票类别 —— Class T 普通股，LTBT 拥有选举和罢免 Class T 董事的独占法定权力，这些董事将共同构成我们公司董事会法定席位的绝大多数。Class T 股票对提交给股东大会的一般商业表决事项不具有投票权，且不享有任何分红和资产分配等经济利益。

Immediately prior to the completion of this offering, we will also issue a single share of Class F common stock, a special class of our common stock, to a limited liability company organized by our co-founders (the “Founder LLC”).

紧接本次公开招股完成前，我们还将发行 仅此一股 的特殊普通股 —— Class F 普通股，授予由联合创始人共同设立的合伙实体（Founder LLC）。

Dario Amodei, our Chief Executive Officer and a member of our board of directors, and Daniela Amodei, our President and Chairperson of our board of directors, together with our five other co-founders, will initially be the sole members of the Founder LLC.

首席执行官兼董事 Dario Amodei、总裁兼董事会主席 Daniela Amodei，与其余五位联合创始人一起，最初将构成 Founder LLC 的全部专属成员。

Our Class F common stock, which will be held by the Founder LLC, will be entitled to an aggregate number of votes that equals 50.1% of the total voting power of our outstanding shares of capital stock with respect to matters submitted to stockholders generally, including the election of our directors other than the Class T directors. Our Class F common stock will not have any economic rights.

由 Founder LLC 持有的这一股 Class F 普通股，在提交股东大会审议的一般表决事项（包括选举除 Class T 以外的普通董事席位）中，享有高达 50.1% 的压倒性多数表决权。同样，Class F 普通股不带有任何经济权益。

Upon the completion of this offering, we will also authorize a special class of our common stock, Class E common stock, which will be issued to our employees, excluding our co-founders. Our Class E common stock will be entitled to vote only on certain limited matters and will not have any economic rights.

本次发行完成时，我们还将核准并发行 Class E 普通股，定向授予公司全体员工（排除联合创始人）。Class E 普通股仅在极其有限的特定事项上享有表决权，且不带有直接经济分配权益。

In addition, we have authorized Class A common stock and Class N common stock. The rights of the holders of Class A common stock and Class N common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share and shares of Class N common stock have no voting rights, except as otherwise required by law.

此外，我们还设立了 Class A 普通股 与 Class N 普通股。除投票权和可转股性外，两者享有对等法定权益。每股 Class A 享有一票常规表决权；Class N 则不享有表决权（除法律硬性规定外）。

The holders of our Class N common stock are primarily strategic business partners, and shares of Class N common stock will generally convert to Class A common stock upon a sale or transfer to an unaffiliated third party. Our Class A common stock is not convertible.

Class N 普通股的持有人主要是重要的战略商业合作伙伴。当 Class N 股票向非关联的第三方转让或出售时，将自动转换为可交易的 Class A 普通股。而公开市场的 Class A 普通股自身不可转换。

We believe that Powerful AI, a highly capable and impactful form of frontier AI characterized by the following key attributes, will become widely available within a few years:

我们深信，具备以下核心关键特征的“强人工智能”（Powerful AI）——一种具备极强综合能力与深远影响力的前沿 AI 终极形态——将在短短数年之内迎来广泛普及与应用：

If Powerful AI is directed at solving humanity’s hardest problems and the risks are managed responsibly, the potential is extraordinary.

如果强人工智能被真正指引用于攻关全人类最严峻的根本难题，并且所有伴生风险均得到负责任的严密管控，其所释放的潜力将是无法估量的壮丽。

The possibilities include compressing decades of scientific progress into years; accelerating drug discovery, disease detection, and the delivery of personalized therapy; providing individually tailored education and expert financial and legal advice; advancing power grids and battery design for greater efficiency and reliability; and extending to the developing world capabilities that took wealthy nations generations to build.

这些令人振奋的无限可能包括：将过去需要数十年的科学探索进程压缩进短短数年之内；彻底颠覆并极速推进创新药靶点发现、早期疾病精准筛查与个体定制化基因疗法；为地球上的每个人提供量身定制的一对一精英教育，以及顶尖的财务与法律专家咨询；驱动国家级智能电网与下一代固态电池设计实现前所未有的能效突破；并将发达国家历经数代人探索才建立起的科技与医疗能力，迅速下沉普及赋能给广大发展中国家。