AI News Feed
Market watch
Liquid AI Releases d1, a Decision Model That Returns Calibrated Probabilities With Zero Output TokensAustralia Orders Rapid Cyber Stocktake After OpenAI Medicare BreachNetflix Adds Codenames Party to Netflix GamesMistral CEO Says US AI Safety Debate Masks Competitors' NegligenceGoogle releases Android 17 QPR2 Beta 6.1 with Pixel 11 supportOracle CISO and former RSA CTO say AI agents require human oversight as breach window shrinks
Liquid AI Releases d1, a Decision Model That Returns Calibrated Probabilities With Zero Output TokensAustralia Orders Rapid Cyber Stocktake After OpenAI Medicare BreachNetflix Adds Codenames Party to Netflix GamesMistral CEO Says US AI Safety Debate Masks Competitors' NegligenceGoogle releases Android 17 QPR2 Beta 6.1 with Pixel 11 supportOracle CISO and former RSA CTO say AI agents require human oversight as breach window shrinks
Markets

Leaked Anthropic IPO Filing Shows $4.6B Revenue, $8B Operating Loss

Details from Anthropic's confidential S-1 filing show 2025 revenue of $4.6 billion against an $8 billion operating loss, with cloud commitments of $518 billion over a decade and a possible November listing at a $2 trillion valuation.

AI News Feed · 2026-09-30 06:39

The filing, an S-1 prepared in June, was reported on late Monday. The Financial Times reported that growth accelerated further this year, with sales reaching $11.5 billion in the second quarter alone.

Anthropic's net loss for 2025 totaled $42 billion, more than five times the 2024 figure. That number includes a $34 billion accounting charge tied to funding the company has raised from investors. The operating loss, which counts only business operations, was $8 billion, and computing infrastructure costs accounted for more than 91% of it.

The Financial Times reported that Anthropic expects to close the current quarter with an adjusted operating profit. Holding that position may be difficult. The company plans to spend $518 billion on computing infrastructure over the next decade, and Reuters reported that 80% of the total is tied to contracts that either cannot be canceled or require payment for allocated capacity even if it goes unused.

Close to half of the cloud budget is directed to Amazon Web Services, Microsoft and Google. Anthropic also holds about $161.2 billion in equipment lease contracts with Broadcom. In April, the chipmaker partnered with Google to provide several gigawatts of TPU capacity to Anthropic; TPUs are custom AI accelerators Google develops with Broadcom.

The spending commitments occupy only part of the prospectus's risk factors section, which runs at least 80 pages and includes an extended discussion of AI safety. The filing warns that advanced models could pose "catastrophic or existential risks to humanity" and states that Anthropic plans to tell investors such systems may display "self-preserving behaviors," "conceal or manipulate information" and act in ways "resembling blackmail." It adds that ongoing product development "could further increase the risk that our models cause harm."

Anthropic reportedly aims to go public in November at a valuation of $2 trillion or more, with the offering expected to raise as much as $100 billion. Nvidia, which invested $10 billion in Anthropic last November, could join the IPO as an anchor investor.