Anthropic Reports $80.7 Billion First-Half Net Loss

Anthropic reported $16.3 billion in revenue and an $80.7 billion net loss for the first six months of 2026 in its initial public offering filing, underscoring the gap between its rapid growth and its reported bottom line. The company attributed $72.4 billion of the loss to noncash accounting adjustments tied to financial instruments, according to the filing. Revenue for the six months ended June 30 rose from $1.16 billion in the same period a year earlier. The reported net loss was nearly five times first-half revenue, but Anthropic’s operating loss was $693 million, compared with $2.1 billion a year earlier. The large difference reflects accounting charges, not an equivalent cash outflow. The filing’s figures include changes in the value of financial instruments, including convertible debt and other agreements that can be converted into shares. Anthropic also recorded $8.8 billion in other expenses, according to one analysis of the filing; that amount was described as another noncash charge tied to financing. Adjusted profit measures offer a different view of the company’s finances, but they are not the same as the net loss reported under accounting rules. One analysis...