Anthropic's public IPO filing reports $80.7 billion first-half net loss

Anthropic reported a net loss of $80.7 billion for the first half of 2026, more than six times the loss for the same period in 2025. Revenue reached $16.3 billion in that span, and the filing says growth is expected to slow over time. Spending on chips and infrastructure rose to $8.9 billion from $2.3 billion a year earlier.

The company confidentially filed for an IPO in June, and OpenAI filed roughly a week later. Anthropic was valued at $965 billion in May, and coverage says the listing could lift its value toward $1.5 trillion or $2 trillion, though no final valuation has been set. The filing also lists many risks, including dependence on access to capital.

For anyone building an AI company, the prospectus shows how much compute a leading model company needs and how public investors will weigh growth against cash burn. Capacity planning and fundraising assumptions for smaller companies will likely be measured against these numbers.