EL7.AI
StocksMediumUpdated×2•Originally published 26 October 2026•Updated 26 October 2026•
4 min read

Anthropic Losses Reach $80.7 Billion as Revenue Jumps 1,368%

Key Facts

1Anthropic generated about $16.3 billion in revenue in the first half of 2026, and revenue for the quarter ended June 30 grew 1,368% year over year.
2The company recorded an operating loss of $693 million in the first half of 2026, compared with $2.1 billion in the same period of 2025, and a net loss of $80.7 billion.
3Some investors valued Anthropic at about $1.5 trillion, down from about $2 trillion a week earlier.
4Anthropic allocated 5% of its shares to a public benefit fund, with the possibility of adding 2% for each 50% increase in the company's value, subject to a board decision and the announced mechanism.

Anthropic filed a registration statement for an initial public offering with the U.S. Securities and Exchange Commission, saying it intends to list its Class A shares on the Nasdaq Global Select Market under the ticker ANT. The company did not specify the number of shares on offer or a price range, leaving the key offering terms undisclosed. The financial figures in the filing place rapid business growth alongside a huge net loss in the first half of 2026. Revenue was about $16.3 billion during that period, according to Reuters, while the filing showed a net loss of $80.7 billion. The gap highlights the scale of the growing business and the impact of financing items on the bottom line ahead of the start of public trading.

The operating picture looks different from the net result. The company recorded an operating loss of $693 million in the first six months of 2026, compared with an operating loss of $2.1 billion in the same period a year earlier, according to Reuters. At the same time, revenue for the quarter ended June 30 rose 1,368% year over year, one of the filing's clearest indicators of acceleration. Reuters said much of the net loss resulted from an increase in the fair value of the company's convertible notes. The net income loss alone therefore does not reflect operating performance during the period, while the narrower operating loss compared with the previous year points to an improvement in that metric specifically.

Revenue growth is supported by a broad institutional base, according to company disclosures cited by Reuters. More than half of Fortune 500 companies generated at least $100,000 in revenue each for Anthropic. The share also exceeded 30% among Global 2000 companies in the 12 months ended September 30. This measure indicates that commercial demand is not limited to a small number of large clients, but extends to companies on two prominent global lists. That commercial reach provides context for the accelerating revenue figures, while converting them into operating profit remains a central challenge in assessing the company's results.

Valuations circulating for the offering do not represent official terms announced by Anthropic. Reuters said some current and prospective investors valued the company at about $1.5 trillion on October 26, down from about $2 trillion a week earlier, after financial details were presented at an investor event. The Associated Press reported that the company's private market valuation was $965 billion earlier in 2026, and that circulating estimates put a potential valuation at $1.5 trillion or perhaps $2 trillion. The agency also noted that SpaceX's offering in June raised $86 billion, setting a record, and that Anthropic's offering could surpass it. But the number of shares and price range were not specified in the filing, while the possibility of raising up to $100 billion appeared in press reports, not as a target announced by the company.

The offering prospectus includes a warning about risks from AI models themselves: the Associated Press reported that the company said its models could "pose catastrophic or existential risks to humanity." The disclosure comes alongside the public benefit arrangements Anthropic announced on October 18. The company said 5% of its shares would be allocated to a public benefit fund, subject to shareholder approval, and that the board could add 2% for each 50% increase in the company's value above a specified baseline. The allocation places an institutional commitment within the company's structure, but remains subject to shareholder approval for the initial stake. Subsequent additions are also at the board's discretion under the mechanism the company announced.

The Associated Press said the filing paves the way for a potential start to trading in the following month, but the company did not specify a confirmed trading date in the filing. The shares will be listed on Nasdaq under the ticker ANT after the offering is completed, according to Anthropic's announcement. Until the number of shares and price range are announced, circulating estimates of valuation and proceeds remain separate from the official subscription terms. This means investors face a mix of rapid revenue growth, an operating loss smaller than a year earlier, and a net loss affected by the revaluation of financing instruments. The start date for trading and the final terms have yet to be settled in the available information.