Is Anthropic stock (ANT) at IPO Halal?
On October 26, 2026, Anthropic, PBC filed its Form S-1 with the U.S. Securities and Exchange Commission to list Class A shares on the Nasdaq Global Select Market under the symbol ANT. It is one of the most anticipated IPOs in years, and the question landing in our inbox is a simple one: is Anthropic stock halal?
We went through the filing the same way we screen every one of the 32,500 stocks and ETFs on Muslim Xchange. The business passes. One line in the income statement, interest income, puts Anthropic above the 5% ceiling that AAOIFI and most Shariah standards allow for impure income.
Anthropic’s interest income, straight from the SEC filing
The figures below are taken from the consolidated statements of operations in the S-1 registration statement, in millions of US dollars. The six-month figures are unaudited. Total revenue means reported revenue plus interest income, which is the base we use for the impure income test.
| Period | Revenue | Interest income | Total revenue | Interest income as % of total revenue |
|---|---|---|---|---|
| Year ended Dec 31, 2023 | 41 | 69 | 110 | 62.7% |
| Year ended Dec 31, 2024 | 386 | 106 | 492 | 21.5% |
| Year ended Dec 31, 2025 | 4,585 | 431 | 5,016 | 8.6% |
| Six months ended Jun 30, 2025 | 1,163 | 115 | 1,278 | 9.0% |
| Six months ended Jun 30, 2026 | 16,286 | 1,111 | 17,397 | 6.4% |
In the most recent period, the six months ended June 30, 2026, Anthropic earned $1.11 billion of interest on top of $16.29 billion of revenue. Add the two together and interest income is 6.4% of total revenue. The ceiling is 5%.
Why interest income decides the verdict
Shariah stock screening has two parts. The business screen asks what the company does. Anthropic builds and sells AI models, a developer platform and applications like Claude Code, so it passes. The financial screen then looks at how the company is financed and how much it earns from interest.
AAOIFI Shariah Standard No. 21 caps income from prohibited sources, including interest, at 5% of total income. Anthropic is above that line in every period it reports, so under AAOIFI it is Not Compliant on the numbers in the filing.
You can read how we apply each standard on our Shariah screening methodology page.
Where the interest comes from
Anthropic has raised $141.1 billion of capital since it was founded in 2021. As of June 30, 2026 it held $112.4 billion in cash and cash equivalents and $19.3 billion in short-term investments, a combined $131.7 billion. That is 89% of its $147.4 billion in total assets. Money parked at that scale earns interest, about $1.1 billion of it in six months.
Could Anthropic become Shariah compliant?
Possibly, and sooner than you might expect. The ratio has fallen every period: 62.7% in 2023, 21.5% in 2024, 8.6% in 2025 and 6.4% in the first half of 2026. Revenue is growing far faster than the cash pile. If the second half of 2026 follows the trend, interest income could slip under 5% of total revenue within a few quarters. The IPO itself pushes the other way, since the proceeds add to the cash balance that earns interest.
Compliance status on Muslim Xchange is set once per financial period and re-screened every quarter. ANT will be re-screened with its third-quarter figures in our December 10 batch, and again at every quarterly filing after that. If the verdict changes, members who hold ANT in a Watchlist or Portfolio get a compliance change alert by email.
If you plan to buy, or already hold, Anthropic shares
Purification exists for the small impure portion of a compliant company’s income. It is not a workaround for a company that fails the screen. Under AAOIFI, Anthropic is Not Compliant at listing on the numbers in the filing.
If you already hold shares through an employee plan or a secondary purchase, speak to a scholar about an exit plan and purification of any gains. The MX Portfolio tool calculates purification and zakat per share for every holding, including shares imported directly from your brokerage, so the amount is never a guess.
Track ANT and 32,500 other tickers on Muslim Xchange
Every stock and ETF on MX is screened by an AAOIFI-Certified Shariah Advisor and Auditor across all eight standards, with purification and zakat per share. Here is where to go next:
- Stock Screener: filter 32,500 tickers by standard, sector and financial ratio.
- Watchlist: follow ANT and get an alert the day its compliance status changes.
- Portfolio: purification and zakat for every holding, in your currency, with SnapTrade brokerage import.
- Halal Stock Advisor: researched halal stock picks with full analysis reports.
- MX Charts: advanced charting for active traders, included with Max.
- For advisors and institutions: the MX API and Excel Add-in bring the same screening data into your own systems.
Frequently asked questions
Is Anthropic stock halal?
Not Compliant under AAOIFI, based on the financial statements in its October 26, 2026 S-1 filing. Interest income was 6.4% of total revenue, including interest income, in the first half of 2026, above the 5% limit for impure income. The business itself, AI models and software, is permissible.
What is Anthropic’s stock ticker and exchange?
Anthropic has applied to list its Class A common stock on the Nasdaq Global Select Market under the symbol ANT. The number of shares and the price range were left blank in the initial filing.
When is the Anthropic IPO date?
The filing says the sale will begin as soon as practicable after the registration statement becomes effective. No date has been announced. Muslim Xchange will publish the verdict on the ANT page the day it lists.
Why does interest income matter for Shariah compliance?
Earning interest is riba. Scholars tolerate a small, unavoidable amount from a company whose core business is halal, which is where the 5% ceiling comes from. Above that line, the income from interest is no longer incidental to the business.
Could Anthropic become Shariah compliant later?
Yes. The interest income ratio has fallen from 62.7% in 2023 to 6.4% in the first half of 2026 because revenue is growing much faster than interest. If that continues, the ratio could cross below 5%. MX re-screens every ticker quarterly and alerts Watchlist and Portfolio members when a status changes.
Do I need to purify if I already own Anthropic shares?
Purification applies to the impure portion of a compliant company’s income. For a company that fails the screen, the guidance is to exit and purify gains. Speak to a scholar about your situation, and use the MX Portfolio tool to calculate the per-share amount.
Sources
- Anthropic, PBC, Form S-1 Registration Statement, filed with the SEC on October 26, 2026 (accession no. 0001628280-26-067168). Figures from “Summary Consolidated Financial and Other Data”.
- SEC EDGAR, filing index for accession 0001628280-26-067168 (CIK 2130357).
- AAOIFI, Shariah Standard No. 21: Financial Paper (Shares and Bonds).
- Muslim Xchange, Shariah screening methodology.
This article is for information only and is not investment advice. Figures are as reported in Anthropic’s S-1 dated October 26, 2026 and may be amended in later filings. Compliance verdicts on Muslim Xchange are updated each quarter. See our disclaimer.
