Anthropic Files for IPO After $81 Billion First-Half Loss, Testing Wall Street's AI Appetite

Anthropic publicly filed for an initial public offering on Monday, disclosing a net loss of nearly $81 billion in the first two quarters of 2026 and a 2025 net loss of about $42 billion, as the AI developer bets that future revenue will justify enormous infrastructure spending. The filing shows first-half 2026 revenue of $16.3 billion, more than 14 times the year-earlier period, though sequential growth decelerated to 45% in the third quarter from about 140% in the second, Bloomberg reported. Anthropic said it has committed up to $417 billion since late 2025 for computing and infrastructure capacity under contracts ranging from one to 20 years. The company's valuation climbed to $965 billion in its latest funding round from $183 billion just over a year ago, and market expectations put a post-IPO valuation near or above $2 trillion. The offering would be the largest ever and could exceed Berkshire Hathaway's market value. Anthropic also flagged risks including customer concentration — 48% of first-half sales came from cloud marketplaces run by three technology companies — and government intervention, after a Trump administration order briefly halted release of its most advanced technology.