Anthropic Draft Prospectus Shows a $80.7 Billion Loss and Uncertain Access to Computing Power

IBL News | New York

Anthropic’s IPO draft prospectus — leaked to The Wall Street Journal yesterday — showed that the company is having trouble securing enough cloud capacity from AWS, Google, and Microsoft, which increasingly see the Claude-maker as a competitor rather than a customer. The San Francisco-based company reported $16.3 billion in revenue during that same period, with only two customers accounting for about a fifth of sales.

Along with a long list of risk factors, including a narrow customer base, the S-1 filing also disclosed a net loss of $80.7 billion for the first half of 2026.

Anthropic is generating breakneck revenue growth but faces a long list of risks and uncertain access to much-needed computing power

As it prepares for a mega-IPO in November, Anthropic revealed it could spend more than $750 billion on cloud contracts, some still under negotiation.

Building on earlier catastrophic risk disclosures, the filing also warns that Anthropic could be held liable for damages caused by harmful AI behavior in amounts that could exceed available insurance coverage.