Anthropic loses $80bn in six months
The AI company is spending money quickly and lost almost $70bn more than it did during the same period last year.
Joe Sledge is a Business Reporter at The Telegraph. He covers news about financial markets and the wider economy. He previously worked as a Money Reporter for GB News.
Anthropic lost more than $80bn (£59.8bn) in the first six months of the year. The artificial intelligence (AI) company is spending money quickly as it prepares for its major stock market launch.
The company that makes the Claude chatbot reportedly recorded a total loss of $80.7bn in the first half of 2026. That was much more than the $13bn it lost during the same period last year.
Anthropic said most of the increase in its losses came from accounting changes linked to its financing agreements.
However, the technology company has also seen its costs rise sharply as it works to develop its AI models and compete with rivals such as OpenAI, the company behind ChatGPT.
Anthropic spent nearly $9bn on computing power and infrastructure during the first half of the year. That was more than it spent during all of 2025.
The company has signed contracts for cloud computing worth about $450bn over the next seven to 10 years. Its total costs could reach $750bn as it continues to negotiate more deals.
These agreements include $111bn with Google Cloud, $110bn with Amazon Web Services, $31bn with Microsoft, and up to $86bn to rent Nvidia chips from Nscale and Lambda.
Anthropic has also signed a deal worth more than $160bn to rent Google chips through Broadcom.
These figures appeared in a draft document for investors obtained by the Wall Street Journal. They come as Anthropic prepares to sell shares to the public for the first time next month. The sale could value the company at as much as $2tn.
Anthropic made about $16.3bn in revenue during the first six months of the year.
That was almost 15 times its revenue of $1.1bn during the same period in 2025. It was also much more than the $4.6bn in total revenue the company made during all of last year.
However, Anthropic admitted that it still depends heavily on a small number of major customers. The company said that two customers accounted for one-fifth of its revenue during the first half of the year.
This comes as reports say Anthropic's investors are considering lowering the company's valuation by $500bn (£379bn) because its growth is slowing.
Some investors who attended Anthropic's investor day in San Francisco last week discussed valuing the company at about $1.5tn. That is much less than the $2tn valuation that had previously been expected.
Investors are said to be unhappy that the AI company's growth is slowing while it spends more on infrastructure.
Anthropic has also raised the possibility of giving billions of dollars in cash to the public to help reduce fears about how the new technology could disrupt people's lives.
The company said it was considering giving 5pc of its value to a "public benefit fund". The fund would help tackle problems caused by AI, such as people losing their jobs.