‘What’s Wild’ About Anthropic’s Filing? Shay Boloor Points to $2.08 in Revenue for Every Compute Dollar

On Monday, Anthropic’s IPO filing drew positive reactions from investors and market experts. Shay Boloor of Futurum Equities pointed to improvements in how well the company uses computing power as the maker of Claude prepares for a possible major stock market debut.

Anthropic's IPO Filing Shows $16.3 Billion in Revenue

Anthropic, the company behind Claude, publicly filed its registration statement with the Securities and Exchange Commission on Monday.

The company reported $16.3 billion in revenue in the first half of 2026, up sharply from $4.6 billion in all of 2025. However, spending on infrastructure also increased. The company spent nearly $9 billion in the first six months of 2026, compared with $7.3 billion during all of 2025.

Markets reportedly expect Anthropic to raise as much as $100 billion through a possible stock market listing, at a company value of about $2 trillion. However, the final terms are still uncertain.

Shay Boloor Highlights Anthropic's More Efficient Use of Computing Power

Boloor, chief market strategist at Futurum Equities, said Anthropic's filing shows that the company now earns $2.08 in revenue for every dollar it spends on computing. In the first quarter of 2025, it earned just $0.40 for every dollar spent on computing.

"What's wild is that revenue grew ~29x while compute spending rose only ~6x," Boloor wrote on X. He said this trend reflects growing use of products such as Claude Code and more efficient AI models that make it cheaper to run AI tasks.

Newman Challenges Claims That Anthropic Is Burning Through Cash

Futurum Group CEO Daniel Newman also disagreed with claims that Anthropic is a business that burns through large amounts of cash.

Based on the figures he cited, Newman estimated that Anthropic had spent about $10 billion of the roughly $141 billion it had raised, leaving $131 billion in cash and cash equivalents.

He also pointed to Anthropic's fast revenue growth. The company earned hundreds of millions of dollars in 2024, while its projected annual revenue rate by the end of 2026 could approach $100 billion.

"$ANT is the planned ticker for Anthropic, which looks set to move forward with its IPO despite recent concerns about credit and the wider economy," Newman said in another post.

Investors Show Confidence Ahead of the IPO

Altimeter Capital CEO Brad Gerstner congratulated Anthropic on filing its IPO documents. He said his firm planned to make a major investment in the IPO while keeping its existing ownership stake in the company.

Social Capital founder Chamath Palihapitiya also praised the company, calling Anthropic "an amazing business."

Disclaimer: This content was created with help from AI tools and was reviewed and published by Benzinga editors.

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