{
  "id": 10793918,
  "title": "IPO filing: Anthropic routed 47% of its sales, or ~$2.16B, in 2025 through cloud partners Amazon and Google; analysis: it paid ~$351M back in distribution fees (Reuters)",
  "url": "https://urgent.news/2026/09/29/ipo-filing-anthropic-routed-47-of-its-sales-or-2-16b-in-2025-through",
  "topic": "ai",
  "section": "AI",
  "published": "2026-09-29T22:05:01.000Z",
  "source": {
    "name": "Techmeme",
    "slug": "techmeme",
    "url": "https://www.reuters.com/world/anthropic-ipo-prospectus-lays-bare-deep-dependence-big-tech-partners-2026-09-29/"
  },
  "original_language": "en",
  "account": null,
  "summary": "Anthropic's confidential IPO prospectus reveals that in 2025, the company generated $4.6 billion in revenue, with 47% of sales, or approximately $2.16 billion, routed through cloud partners Amazon and Google. According to Reuters, Anthropic paid around $351 million in distribution fees to these partners.\n\nThe company's revenue saw a 12-fold increase from the previous year, while operating losses more than doubled to exceed $8 billion. The majority of Anthropic's revenue, around $3.8 billion, came from customers paying based on usage of its Claude AI system, with subscription revenue reaching $789 million. The United States accounted for nearly two-thirds of total sales.\n\nAnthropic's dependence on Amazon and Google has grown significantly, with sales through these two companies rising from 11% of revenue in 2023 to 32% in 2024, and nearly half in 2025. The company's net loss was $42 billion, which includes a $34 billion accounting charge related to funding raised from investors, and its operating loss was $8 billion, with computing infrastructure costs accounting for over 91% of that sum, according to SiliconANGLE.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Anthropic routes 47% of sales through Amazon, Google - report",
        "url": "https://urgent.news/2026/09/29/anthropic-routes-47-of-sales-through-amazon-google-report",
        "published": "2026-09-29T20:58:20.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}