Anthropic generated $16.3 billion in revenue in the first half of 2026, according to a draft prospectus viewed by The Wall Street Journal. The same filing shows an $80.7 billion net loss, mostly from non-cash adjustments, and compute commitments that reportedly run past $600 billion.
Anthropic generated $16.3 billion in revenue during the first half of 2026, up from $1.1 billion in the same period last year, according to a draft prospectus viewed by The Wall Street Journal.
The San Francisco-based company is preparing an initial public offering. The offering could value it at $2 trillion. Crypto Briefing reports the IPO is tentatively scheduled for November 2026.
Most of the $80.7 billion loss is non-cash
Anthropic reported a net loss of $80.7 billion for the first half of 2026. However, $72 billion of that total stemmed from non-cash accounting adjustments related to convertible notes and financing instruments.
Crypto Briefing reports that Anthropic posted third-quarter 2026 revenue of $16.8 billion. The company also said it reached adjusted profitability and positive cash flow during the third quarter.
Compute commitments may exceed $600 billion
Anthropic spent nearly $9 billion on computing capacity and infrastructure in the first six months of 2026, surpassing its $7.3 billion for all of 2025, according to the Journal. The report says it is committed to roughly $450 billion in cloud compute agreements over the next decade, including $111 billion with Google Cloud, $110 billion with Amazon Web Services and $31 billion with Microsoft.
A separate Crypto Briefing report says the draft S-1 documents show Anthropic plans to spend more than $600 billion on computing power. An earlier projection put the commitments at approximately $518 billion over roughly a decade, and 80% of that earlier total was described as non-cancelable.
One deal involves AMD, which is set to supply up to two gigawatts of its MI450 chips, with deliveries beginning in 2027. The arrangement also includes a potential $5 billion equity investment tied to milestones.
Two customers account for about 20% of revenue
The Journal observed that approximately 20% of the first-half revenue came from just two customers. The company also noted that potential damages from severe AI-related security events could exceed available insurance coverage limits.
Sources: Investing.com, Crypto Briefing, Crypto Briefing
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