Anthropic draft IPO prospectus details steep losses and AI safety risks
Anthropic reported an $8 billion operating loss for 2025 despite a roughly twelvefold increase in revenue to $4.6 billion, according to details from a draft IPO prospectus reported by Reuters and Engadget. The company recorded a $42 billion net loss as the costs of training, serving and financing its artificial-intelligence systems climbed.
The prospectus began circulating after Anthropic made a confidential filing with the U.S. Securities and Exchange Commission in June. Reports have put the company’s potential valuation at about $2 trillion. Anthropic also plans to spend $518 billion on data-center infrastructure in the coming years.
More recent figures showed an operating profit on $11.5 billion in revenue in the second quarter of 2026, with another quarterly operating profit expected. However, the Financial Times reported that two clients accounted for about one-quarter of …