Anthropic Draft Shows $80.7 Billion Loss and $750 Billion Compute Plans

Anthropic’s draft IPO prospectus reportedly shows first-half 2026 revenue of $16.3 billion and a net loss of $80.7 billion, alongside plans for as much as $750 billion in computing commitments and potential spending. The figures offer a look at the financial scale and infrastructure demands of the artificial-intelligence company as it prepares for a possible November share sale. The prospectus remains a draft and has not been made public. It reportedly records revenue of $16.3 billion for the six months ended June 30, up from $1.1 billion in the same period of 2025. About $72 billion of the first-half loss stemmed from accounting changes in the value of convertible notes and other financial instruments, rather than cash operating expenses. Anthropic’s reported loss for the comparable period a year earlier was $13 billion. The draft also puts spending on computing capacity and infrastructure at nearly $9 billion in the first half of 2026, compared with $2.3 billion in the same period last year and $7.3 billion during all of 2025. The prospectus reportedly lists about $450 billion in cloud-computing agreements spanning seven to 10 years, most of them noncancellable. The...