Artificial Intelligence: Anthropics Stock Prospectus Shows High Losses
Reuters has obtained confidential IPO documents, which show rapidly increasing sales, enormous liabilities and an unusual power structure.
Anthropic, the artificial intelligence company behind the Claude assistant, has filed a prospectus for its upcoming stock listing. However, the document is still confidential but Reuters has obtained a preview of the key numbers ahead of its release. According to the leaked prospectus, Anthropic reported a net loss of $42 billion in 2023.
The company plans to spend a total of $518 billion on cloud services, chips and data centers. At the last disclosed valuation in November, Anthropic's market value could reach more than $2 trillion, nearly double the $965 billion raised in a May fundraising round. The full prospectus has not been publicly filed yet. Anthropic declined to comment on the Reuters report and initially ignored inquiries from Bloomberg.
Roughly $34 billion of the 2025 net loss stems from a revaluation of convertible debt from earlier financing rounds as the company's value has grown. No money was lost on the actual operations; Anthropic reported a loss of $8.1 billion, down from nearly $3 billion the previous year. Revenue more than quadrupled to about $4.6 billion.
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