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Anthropic logged a net loss of 80.7 billion dollars for the six months ended June 30 with 72 billion dollars of that total stemming from non-cash accounting charges tied to the rising value of convertible notes and other instruments the company used to raise funds a Wall Street Journal report citing a draft IPO prospectus said on October 20. The loss widened from 13 billion dollars in the year-earlier period as the artificial intelligence developer continued to invest heavily in the infrastructure needed to train and run its models. Reuters reported separately that the figures underscore the intense costs of the ongoing AI race even as investors increase scrutiny over returns on massive spending on chips and data centers.
The company’s revenue climbed to 16.3 billion dollars in the first half from 1.1 billion dollars a year earlier according to the draft prospectus reviewed by the Journal. Two unnamed customers accounted for about 20 percent of that revenue the filing showed. Infrastructure and compute spending nearly quadrupled to almost 9 billion dollars in the period from 2.3 billion dollars in the prior-year half Reuters noted in its coverage of the document.
Anthropic has committed to at least 518 billion dollars in spending on cloud services computing and infrastructure over the next decade the prospectus indicated. The company signaled it could spend as much as 750 billion dollars in coming years to secure additional computing capacity including deals currently under discussion the Journal reported. Binding non-cancellable contracts include 111 billion dollars to Google Cloud 110 billion dollars to Amazon Web Services and 31 billion dollars to Microsoft over seven to 10 years according to details cited across multiple outlets reviewing the filing.
The San Francisco-based startup founded in 2021 and known for its Claude AI models is preparing for an IPO as soon as November a Reuters dispatch on the draft S-1 stated. Discussions with investors have centered on a valuation around 1.5 trillion dollars down from earlier expectations near 2 trillion dollars people familiar with the matter told the news service. The filing comes after Anthropic raised funds in recent years from backers including Amazon and Google which have also provided substantial cloud credits and partnerships.
Third-quarter revenue reached 16.8 billion dollars a 45 percent increase from the second quarter according to information Anthropic shared with prospective IPO investors on October 14 as relayed by Reuters. The company has posted adjusted profitability for the second straight quarter and generates 1.70 dollars in revenue for every dollar spent on compute the draft document showed. Such metrics appear aimed at reassuring investors about the path to sustainable returns amid the extraordinary scale of its cash outlays.
Anthropic’s experience mirrors broader trends in the AI sector where hyperscalers and developers have flooded the bond market with debt to fund data center expansion Goldman Sachs projected gross debt issuance by such players could hit a record 420 billion dollars in 2027 up 60 percent from 2026 forecasts the bank told clients in a report cited by Emirates 24|7 in September. The IPO process requires detailed disclosures on risks including those tied to advanced AI systems that the company itself has flagged in prior filings. The draft prospectus will likely undergo revisions before any public listing.
