Anthropic Posts US$104bil Losses Ahead of Its IPO Debut

Quick Answer: The Anthropic IPO is expected in the coming weeks, but its updated prospectus shows accumulated losses of US$104 billion since the start of the year. Revenue soared to US$33.2 billion in the first nine months of 2026, up from US$2.5 billion a year earlier. For shareholders, the test is whether that revenue growth can keep pace with spending on this scale.

Why Are Anthropic’s Losses at US$104 Billion?

Anthropic IPO financial chart showing losses and revenue — Anthropic’s updated prospectus shows losses and revenue ahead of its IPO.

Anthropic has accumulated losses of US$104 billion since the start of the year, according to its updated prospectus filed on Monday. The first three quarters of 2025 recorded losses of US$25 billion, about a quarter of the current total.

In the third quarter, Anthropic reported a loss of US$23.3 billion on revenue of US$17 billion. The losses were largely attributable to an accounting adjustment, while the operating loss stood at US$567 million.

How Fast Is Anthropic’s Revenue Growing?

Revenue reached US$33.2 billion in the first nine months of 2026, against US$2.5 billion in the same period last year. That is roughly 13 times the prior-year level.

Third-quarter revenue of US$17 billion makes up about half of the nine-month total. The source gives no quarter-on-quarter comparison for the earlier quarters.

Where Is the US$895 Billion Infrastructure Budget Going?

Anthropic spent around US$5 billion on computing resources in the last quarter. The updated prospectus also shows US$895 billion budgeted for data centre capacity and infrastructure expansion over the coming years.

Just under US$450 billion of that amount is due before the end of 2030. That is roughly half the total budget falling due within the next few years.

When Is the Anthropic IPO, and Who Is It Competing With?

Anthropic is expected to go public in the coming weeks, overtaking OpenAI, the developer of ChatGPT, which no longer plans to list its shares this year.

Its AI assistant, Claude, competes not only with ChatGPT but also with Google, Microsoft and Meta.

What Does the Anthropic IPO Mean for Shareholders?

The report gives no offer price, number of shares, funds to be raised, subscription dates or tentative listing date. These terms are the first figures shareholders will need before judging the valuation.

Investors’ long-standing concern about whether massive AI investment can generate sufficient returns has resurfaced. Debate has also grown over AI risks after independent hacking attacks carried out using AI software.

No Bursa Malaysia listing or stock code is named in the source, so there is no local ticker to track yet. The offer terms, once disclosed, are worth monitoring. For background on screening AI names, read AI Stock Analysis for Malaysians.

Key Takeaways

Accumulated losses: US$104 billion since the start of the year.
Nine-month revenue: US$33.2 billion, up from US$2.5 billion a year earlier.
Q3 performance: US$23.3 billion loss on US$17 billion revenue; operating loss of US$567 million.
Infrastructure budget: US$895 billion, with just under US$450 billion due before the end of 2030.
Missing IPO details: offer price, market, subscription period and listing date are not in the source.

📊 On AI Stock Terminal: Malaysia IPO calendar

Disclaimer: This article is for information only and is not investment advice. Do your own research and read the official prospectus before making any investment decision.

Frequently Asked Questions

How much has Anthropic lost so far?

Anthropic has accumulated losses of US$104 billion since the start of the year, according to its updated prospectus filed on Monday. Its third-quarter loss alone was US$23.3 billion, largely due to an accounting adjustment.

When will the Anthropic IPO take place?

Anthropic is expected to go public in the coming weeks, according to the report. The source does not give an exact listing date, offer price or market.

Is Anthropic listed on Bursa Malaysia?

The source names no Bursa Malaysia listing or stock code for Anthropic. Its competitors named in the report are ChatGPT, Google, Microsoft and Meta.

How much revenue did Anthropic make in 2026?

Anthropic’s revenue reached US$33.2 billion in the first nine months of 2026, up from US$2.5 billion in the same period last year. Its third-quarter revenue was US$17 billion.

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