Anthropic's draft prospectus shows that the net loss in the first half of the year expanded to 80.7 billion USD

The artificial intelligence company Anthropic is about to sprint towards its IPO. The draft prospectus shows that revenue in the first half of 2026 is expected to increase from $1.1 billion in the same period last year to $16.3 billion, while net losses are projected to widen from $13 billion to $80.7 billion. Of this, $72 billion comes from the accounting revaluation of financing instruments such as convertible notes; the increase in valuation makes the conversion rights more valuable, and the fair value increase of related financing liabilities needs to be recognized as a loss in the income statement, which does not represent an equivalent cash expenditure for the current period, but future conversions may dilute existing shareholders.

The net loss for the entire last year was $42 billion, of which about $34 billion came from similar accounting adjustments. In the first half of the year, investments in computing power and infrastructure approached $9 billion, compared to $2.3 billion in the same period last year. The draft prospectus lists over $600 billion in future cloud services and chip-related contracts, with some commitments being irrevocable; if agreements still under negotiation are included, the potential total could reach $750 billion.