Anthropic’s IPO math is staggering.
The AI lab generated nearly $4.6 billion in revenue last year — about 12 times its 2024 total — while recording a $42 billion net loss, per an IPO prospectus seen by Reuters. The company spent $7.33 billion on compute and infrastructure in 2025 and has $518 billion in future cloud, computing, and infrastructure obligations.
The prospectus could value the company at $2 trillion, while the company is predicting an IPO after the November midterm elections, Reuters reported.
The report comes as Anthropic has been on a bit of a roller coaster ride. Employees, including CEO Dario Amodei, have warned that AI labs haven’t...
Read the full article here
