Trump’s immigration policy is so harmful to talent that Anthropic mentioned it as a risk factor in its historic IPO

Amid all the business risks that Anthropic revealed in its S-1 filing this week, including that its technology could be nationalized or that a bad actor could use Claude to create biological weapons, one potential  pitfall may have been glossed over—the idea that U.S. immigration policies could harm its ability to recruit the best talent.

This risk, disclosed by Anthropic Monday, comes as the Trump administration has tried to restrict the number of non-Americans working for companies in the U.S. Although Anthropic did not mention President Trump or the administration directly in the context of immigration policies, the risk brings renewed attention to concerns by companies that cutting back on foreign workers will make the American AI industry less competitive as it struggles for AI dominance with countries like China.

The AI company, which is preparing for a potential $2 trillion IPO as early as next month, made clear in its prospectus that good talent gives it an edge.

“Talent is one of our most important advantages, and maintaining our talent density requires retaining exceptional people and recruiting world-class talent, including researchers and engineers, who share our mission,” the company wrote.

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