Anthropic's draft IPO filing reveals $80.7bn half-year loss, WSJ reports
Anthropic's confidential IPO prospectus shows an $80.7 billion net loss for the first half of 2026 — mostly accounting charges — alongside $16.3 billion of revenue and computing commitments that could reach $750 billion, The Wall Street Journal reports.
Anthropic recorded a net loss of more than $80 billion in the first half of 2026, according to a draft IPO prospectus reviewed by The Wall Street Journal, up from a $13 billion loss a year earlier.
Most of the shortfall is on paper: about $72 billion is accounting charges on convertible notes and other funding instruments, Reuters reported, citing the Journal. Anthropic says it was profitable on its adjusted measure in Q2 and Q3 once such charges are stripped out.
Revenue is growing fast: $16.3 billion in the first half of 2026, up from $1.1 billion a year earlier, against about $4.6 billion for the whole of 2025. Around one-fifth of first-half revenue came from just two customers.
The draft also flags vast computing commitments — more than $600 billion in AI infrastructure costs, with talks that could push the total towards $750 billion, Barron’s reported. Risk factors include preventing AI models from causing harm, cyberattacks and “possible blackmail by uncontrolled models”.
The listing, expected in November, could value Anthropic at about $2 trillion, though some investors now discuss around $1.5 trillion, Barron’s said. Anthropic declined to comment. Filed confidentially with the SEC, the figures may change before the prospectus is published.
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