Anthropic prospectus shows $2 trln IPO ambition despite huge loss, Reuters reports

Anthropic, an artificial intelligence startup, is reportedly set to launch an IPO with an ambitious valuation of over $2 trillion, according to Reuters citing the company's prospectus. This valuation is more than double the company's estimated worth of $965 billion in May, signalling the soaring investment in AI technologies.

In 2025, Anthropic's revenue more than quadrupled, reaching nearly $4.6 billion. However, the company faced a significant financial loss of $42 billion, which included a $34 billion accounting charge linked to certain financing instruments that could be converted into shares. Anthropic's annual spending on computing and infrastructure surged to $7.33 billion, three times more than in 2024.

Looking ahead, the company forecasts a staggering $518 billion in obligations related to cloud, computing, and infrastructure services for the forthcoming year.

The company's operating loss in 2025 exceeded $8 billion, excluding specific liability writedowns, a testament to the costs associated with scaling its Claude models. Anthropic also disclosed that nearly a quarter of its revenue originated from two major customers, implying that a downturn in these clients could significantly impact its income.

The IPO, anticipated to occur after the November U.S. midterm elections, would place Anthropic among the ranks of AI behemoths like OpenAI, making it a significant valuation benchmark for the sector.