# Anthropic filing shows $8 billion operating loss and fast revenue rise

> Leaked S‑1 shows Anthropic's revenue jumped to $4.6 billion in 2025 while operating loss hit $8 billion, with huge cloud‑spending commitments.

Oossa · 2026-09-29 · https://oossa.com/en/anthropic-filing-shows-8-billion-operating-loss-and-fast-revenue-rise

Anthropic's confidential IPO filing, leaked in June and reported by Reuters and the Financial Times, reveals a stark picture. Revenue grew from $400 million in 2024 to $4.6 billion last year and hit $11.5 billion in the second quarter of 2025. At the same time, the company posted an $8 billion operating loss for 2025, most of it tied to cloud‑computing costs.

## What the numbers mean

The filing shows Anthropic plans to spend $518 billion on computing infrastructure over the next ten years, with 80 % of that locked into contracts that are hard to cancel. Roughly half of the cloud budget goes to Amazon Web Services, Microsoft and Google, and the firm has $161.2 billion in equipment leases with Broadcom. Nvidia, which invested $10 billion last year, may join the IPO as an anchor investor.

## Risk warnings

The prospectus includes an 80‑page risk section that warns about “catastrophic or existential” dangers from advanced AI models, including possible self‑preserving or deceptive behavior. The company says these risks could increase as it continues product development.

## The facts

- Anthropic's revenue rose from $400 million in 2024 to $4.6 billion in 2025.
- Operating loss for 2025 was $8 billion, with over 91 % due to computing infrastructure costs.
- The firm plans to spend $518 billion on cloud and hardware over the next decade.
- 80 % of the cloud spend is bound by non‑cancelable contracts, half of which go to AWS, Microsoft and Google.
- Anthropic hopes to launch the IPO in November, targeting a valuation of $2 trillion or more and raising up to $100 billion.

## Why it matters

For everyday users, Anthropic's massive cloud spend could keep the cost of AI services high, affecting subscription prices and availability. The company’s highlighted safety risks remind investors and regulators that rapid AI growth still carries uncertain societal impacts.

## Sources & references

1. [Leaked Anthropic IPO filing reveals $8B operating loss, rapid revenue growth](https://siliconangle.com/2026/09/29/leaked-anthropic-ipo-filing-reveals-8b-operating-loss-rapid-revenue-growth/) – SiliconANGLE, 2026-09-29

Last updated: 2026-09-29