Key points:
- Anthropic recorded a net loss of $80.7 billion in the first half of 2026, up sharply from $13 billion a year earlier.
- A $72 billion accounting charge linked to convertible bonds accounted for most of the reported loss.
- Spending on computing capacity and infrastructure nearly quadrupled to $9 billion in the first half.
- Anthropic has committed to spending at least $518 billion over 10 years on cloud services, computing and infrastructure.
- The company reported third-quarter revenue of $16.8 billion, up 45% from the previous quarter, ahead of its expected November IPO.
ISLAMABAD – Anthropic reported a net loss of $80.7 billion in the first half of 2026, significantly higher than the $13 billion loss recorded during the same period last year, according to a draft IPO prospectus reviewed by Reuters.
Most of the reported loss stemmed from a $72 billion accounting charge linked to an increase in the estimated value of bonds that can eventually be converted into company shares.
The disclosure comes as the artificial intelligence company prepares for an expected initial public offering (IPO) in November. Some investors are reportedly considering a lower valuation of around $1.5 trillion following its latest financial disclosures.
Anthropic’s computing spending nearly quadruples
Anthropic’s spending on computing capacity and infrastructure rose sharply in the first half of 2026 as the company continued investing in AI development.
The company spent nearly $9 billion on computing capacity and infrastructure during the six-month period, compared with $2.3 billion in the same period last year, according to its draft S-1 filing.
Anthropic has also committed to spending at least $518 billion over the next decade on cloud services, computing and infrastructure.
The figures highlight the substantial costs of developing advanced AI systems. Investors are increasingly assessing whether spending on specialised chips, data centres and computing resources will generate sufficient returns.
Anthropic did not respond to Reuters’ request for comment.
Revenue reaches $16.8 billion in third quarter
Anthropic reported third-quarter revenue of $16.8 billion to prospective IPO investors at a meeting on October 14, Reuters reported, citing people familiar with the matter.
The figure represented a 45 per cent increase from the previous quarter, indicating continued demand for the company’s AI products and services.
However, some investors were reportedly disappointed by the slower quarter-on-quarter growth. Anthropic’s revenue had more than doubled between the first and second quarters, reaching $11.6 billion in the second quarter.
The company’s performance could influence investor sentiment across the wider AI industry. Market participants are closely watching its anticipated listing ahead of a potential IPO by rival OpenAI next year.
Anthropic recorded $42 billion loss in 2025
Anthropic previously reported a net loss of $42 billion for 2025, with most of the figure also attributed to an accounting charge associated with convertible notes, according to Reuters.
As the company’s valuation increased, the estimated fair value of those notes tripled compared with the previous year.
Excluding the accounting charge, Anthropic recorded an operating loss of around $8.1 billion on revenue of $4.6 billion in 2025.
The company has benefited from rising demand for Claude Code, its coding assistant that helps developers write software and build applications.
Anthropic’s latest financial disclosures show that its revenue is expanding rapidly, but the company continues to face substantial computing, infrastructure and financing-related costs.
Its anticipated IPO will provide investors with a closer look at the economics of developing advanced AI systems and whether growing demand can support the industry’s heavy spending commitments.
