Anthropic S-1 Reveals $16.3B Revenue, $80.7B Half-Year Loss Ahead of Record IPO

Anthropic disclosed a net loss of $80.7 billion for the six months ended June 30 in a draft S-1 filing obtained by The Wall Street Journal, as the AI developer prepares a potential record IPO valuing it at up to $2 trillion. Revenue reached about $16.3 billion, up from $1.1 billion a year earlier, but roughly one-fifth came from just two customers. The loss was driven largely by a $72 billion accounting charge tied to convertible notes, versus a $13 billion loss in the prior-year period. Compute spending nearly quadrupled to almost $9 billion from $2.3 billion. Anthropic has committed roughly $450 billion in cloud contracts over seven to ten years—including $111 billion with Google, $110 billion with AWS and $31 billion with Microsoft. Total future infrastructure costs, including chip leases and a Broadcom deal, may exceed $600 billion, with up to $150 billion more under negotiation.