Anthropic revenue hits $16.3 billion, losses reach $80.7 billion ahead of IPO
Key Facts
Anthropic's revenue reached $16.3 billion in the first half of 2026, according to Investing, citing a Wall Street Journal report based on a draft IPO prospectus reviewed by the newspaper. That compared with $1.1 billion in the corresponding period a year earlier, according to the same report on the company's financial results. The disclosure of sales growth comes as Anthropic prepares to go public and faces extensive commitments to purchase computing capacity over the coming years. The Wall Street Journal said the draft also disclosed risks involving the customer base on which the company relies for its business. The newspaper described it as a "narrow customer base" among the risks listed in the IPO document.
Alongside the revenue growth, the Wall Street Journal reported that Anthropic posted a net loss of $80.7 billion in the first half of 2026, citing the draft prospectus. The loss included $72 billion in accounting adjustments, according to details Investing cited from the newspaper's report on the company's finances. The report described those adjustments as non-cash and linked them to convertible notes and financing instruments used by Anthropic during the financial period covered by the report. The accounting treatment of those instruments thus accounted for a large share of the net loss disclosed in the draft, alongside the increase in sales. The financial results for the period combined revenue expansion from the corresponding period with a substantial accounting impact related to the company's financing and its instruments.
On infrastructure, the report cited by Investing estimated commitments under cloud computing agreements at about $450 billion over the next decade. It described the agreements covered by that estimate as non-cancellable, as part of its account of the company's future commitments to secure cloud computing services. More broadly, the Wall Street Journal said Anthropic's potential spending on additional computing capacity could reach $750 billion in the coming years. That broader estimate includes deals still under negotiation, alongside the company's planned expansion of its available computing capacity. These amounts relate to purchases of computing capacity over the coming years, while the revenue and losses disclosed in the draft cover the first half.
Anthropic announced a spending commitment on Amazon Web Services technologies in April as part of its expansion of computing resources secured from partners. The company said in its announcement: "We are committing to spend more than $100 billion over the next ten years on Amazon Web Services technologies." The commitment spans the ten years following the announcement, as part of the company's agreements to secure the computing capacity it uses in its business. In a separate agreement, Anthropic announced a collaboration with Google and Broadcom to provide several gigawatts of next-generation tensor processing unit capacity. The company's announcement linked this new capacity to an expected start date, as part of its future arrangements with the two companies to expand its available computing resources.
Against the backdrop of preparations for its IPO, Anthropic announced in May that it had raised $65 billion in a Series H funding round. The company said its post-money valuation reached $965 billion, according to the funding announcement, which also outlined changes in its revenue pace. In the same announcement, it said its annual revenue run rate had exceeded $47 billion earlier in May. That figure represents the pace of business on an annualized basis, while first-half revenue covers an actual financial period that ended during the year. Anthropic also announced an allocation of 5% of its shares to the Anthropic Public Benefit Fund, with implementation of the allocation remaining subject to shareholder approval.
As its next step in capital markets, Anthropic plans to hold its initial public offering in November, according to the Wall Street Journal's report on the timing of the anticipated transaction. The newspaper cited some of the company's advisers as saying that waiting until that month would give it time to present third-quarter financial results. That timing links the offering date to the availability of results for a more recent financial period for investors, according to the explanation the advisers gave the newspaper about the IPO plan. The move is part of preparations for the company's transition to the public market, alongside arrangements to obtain additional computing capacity from its technology partners. On implementing those arrangements, Anthropic said it expects the new capacity agreed with Google and Broadcom to begin coming online from 2027.