United States · Business news · AI & Tech · 29 Sept 2026
US Information Technology Communication Services Consumer Discretionary
A prospectus for Anthropic's planned IPO, reviewed by Reuters, shows 2025 revenue of nearly $4.6 billion, up about 12-fold, and a net loss of nearly $42 billion that includes a roughly $34 billion accounting charge tied to financing that could convert into shares; excluding write-downs of liabilities mostly tied to past fundraising, the operating loss was more than $8 billion. The Claude developer lists $518 billion of planned cloud, computing and infrastructure obligations, held $20.28 billion in cash and short-term investments at year-end, and could be valued at more than $2 trillion in a listing likely to come after the November midterms.
Amazon and Google have invested billions in Anthropic and supply its cloud infrastructure, so a listing would put a public price on their stakes, and its compute commitments are future revenue for their cloud units and for AI chip suppliers. Nearly a quarter of Anthropic's 2025 revenue came from two customers, and it warned that many of its largest clients are not locked into long-term contracts, a concentration risk. A deal valued above $2 trillion would also compete with other AI stocks for investor money.
Reported by Reuters (via The Star) — “Exclusive-Anthropic's IPO prospectus shows sweeping AI vision, surging costs” ↗ on 29 Sept 2026.
Official series on 29 Sept 2026 or the last day before it, and the latest observation.
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