Anthropic's confidential IPO filing reveals USD 80.7 billion H1 loss, massive computing costs

New Delhi [India], October 21 (ANI): Anthropic, a leading company developing advanced artificial intelligence (AI), reported a net loss of USD 80.7 billion in the first half of 2026. The company also described its high computing costs, its dependence on a small number of customers, and possible financial risks linked to AI as it prepares for a possible initial public offering (IPO), when a company sells its shares to the public for the first time. This information comes from a draft prospectus reviewed by The Wall Street Journal.
The company earned USD 16.3 billion in revenue during the six months ending June 30, compared with USD 1.1 billion during the same period a year earlier, the newspaper reported. Much of the reported loss came from accounting changes linked to financing agreements. These included USD 72 billion in charges caused by changes in the value of convertible notes and other financial instruments.
According to The Wall Street Journal, Anthropic spent nearly USD 9 billion on computing and infrastructure in the first half of 2026. This was more than the USD 7.3 billion it spent during all of 2025. The company earned USD 4.6 billion in revenue in 2025.
Anthropic's draft prospectus also showed that its future spending commitments for infrastructure could exceed USD 600 billion. The company is considering additional computing deals worth up to USD 150 billion, The Wall Street Journal reported.
The newspaper reported that Anthropic has agreed to spend around USD 450 billion on cloud computing over the next seven to 10 years. Most of these agreements cannot be cancelled. They include commitments to spend USD 111 billion with Google Cloud, USD 110 billion with Amazon Web Services and USD 31 billion with Microsoft, even if the company does not use all the services it has agreed to pay for.

The company has also agreed to spend up to USD 86 billion to rent Nvidia chips through AI cloud providers Nscale and Lambda. It has also committed to spending more than USD 160 billion on Google chips through an agreement with Broadcom, according to the report.
Anthropic warned that it was uncertain whether it would have enough computing power. It said its needs had grown beyond what some cloud partners were willing to provide. The company also identified growing opposition to building data centres as a possible business risk.
The Wall Street Journal reported that about one-fifth of Anthropic's USD 16.3 billion in revenue during the first half of 2026 came from just two customers. This shows that the company depends heavily on a small number of customers.
The draft prospectus also described risks linked to AI systems that may behave in harmful ways. These include models producing responses that resemble blackmail or acting in ways that help them avoid being shut down. Anthropic warned that the financial costs of a disastrous AI-related incident could be greater than the amount covered by its insurance.
These disclosures come as Anthropic prepares for a possible major IPO that could value the company at USD 2 trillion, according to The Wall Street Journal. (ANI)