Anthropic Revenue Hits $16.3 Billion as Losses Exceed $80 Billion Ahead of IPO
Key Facts
Anthropic's revenue reached $16.3 billion in the first half of 2026, Reuters reported on October 20, citing the Wall Street Journal, as the company prepared for an initial public offering. Revenue rose from $1.1 billion in the same period a year earlier, according to figures cited from a draft IPO prospectus. Meanwhile, the company's net loss exceeded $80 billion in the first half alongside the expansion in sales. Its loss in the corresponding period a year earlier was $13 billion, according to the same report. The results came ahead of the proposed offering and after the company announced on June 1 that it had confidentially submitted a draft registration statement to the U.S. Securities and Exchange Commission.
The first-half loss included $72 billion in accounting charges, according to the newspaper report cited by Reuters. These charges were tied to changes in the value of financial instruments Anthropic issued to raise funding and accounted for most of the net loss during the period. On spending, artificial intelligence infrastructure expenses approached $9 billion in the first half. In earlier disclosures covered by Reuters in late September, the company said about 80% of its total infrastructure buildout commitments were non-cancellable or required payment regardless of usage. According to the disclosures, these contractual terms include obligations the company pays even when it does not use the contracted capacity.
Sales growth extended into the third quarter, with Reuters citing two people who attended the investor day as saying Anthropic's revenue reached $16.8 billion during the period. Second-quarter revenue was $11.6 billion, according to figures the two attendees cited from the investor presentation. That followed revenue of $4.7 billion in the first quarter of the year. The attendees also said the company told investors it had posted a profit "on an adjusted basis" in the third quarter. But some investors expressed disappointment at the slowdown in sequential quarterly growth in the latest quarter, despite continued revenue gains, according to another Reuters report published in mid-October.
Before presenting the results to investors, Anthropic announced in May that it had raised $65 billion in a funding round, according to a company statement. Its post-money valuation reached $965 billion, according to the same announcement. In its report published in mid-October, Reuters said some investor day participants discussed a valuation of about $1.5 trillion for the proposed IPO. Against the backdrop of these discussions, European technology stocks had risen 2.4% during the September 29 session in which Reuters covered earlier disclosures from the company's prospectus. The U.S. chip index rose 1.5% in the same session, before the first-half revenue figures were published in October.
Alongside its IPO preparations, Anthropic announced in October that it would allocate 5% of its shares to a public benefit fund. The company said in its announcement that the commitment was "subject to shareholder approval." As for arrangements to sell shares to the public, it said in its confidential filing announcement that "the number of shares to be offered and their price have not yet been determined." That announcement was dated June, before the new figures cited from the draft prospectus were published in October. The allocation of shares to the fund remained subject to shareholder approval under the company's announcement.
On financing its next phase of expansion, Reuters reported in early October that Broadcom had agreed to lend Anthropic up to $42 billion. The agreement aims to finance infrastructure spending, according to the report on the lending arrangements. The draft IPO prospectus also indicated potential spending of up to $750 billion in the coming years. That potential spending is tied to securing additional computing capacity for the company, according to Reuters, citing the Wall Street Journal. The future computing needs follow the infrastructure spending recorded in the first half and come as the company continues the expansion it outlined to investors in October.