> Anthropic IPO draft prospectus reports $80.7 billion loss in the first half of 2026, $600 billion in noncancelable cloud computing contracts

The company recorded a net loss of $80.7 billion in the six months ending June 30, far more than the $42 billion it lost in all of 2025 and one of the largest half-year losses ever reported.

The company is on the hook to pay around $450 billion in cloud computing agreements over the next seven to ten years. The bulk of these deals are noncancelable.

Anthropic plans to spend $111 billion on Google cloud computing contracts, $110 billion with Amazon Web Services, and $31 billion on Microsoft.

Including its more than $160 billion obligation to lease Google chips in a deal with Broadcom, Anthropic’s future infrastructure costs top $600 billion.

Anthropic generated around $16.3 billion in revenue in the six months ended June 30, up from $1.1 billion in the year-earlier period, according to the draft prospectus. During that period, Anthropic spent nearly $9 billion on computing capacity and infrastructure, up from $2.3 billion spent on infrastructure during the same six months in 2025.

Roughly a third of the draft prospectus was dedicated to risk factors, including the possibility of misaligned models causing real-world harms. Anthropic said AI models can show “self-preserving” qualities to avoid being shut down and can generate responses that resemble “blackmail” in an effort to convince humans to allow them to continue operating.

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