Leaked Anthropic IPO prospectus: $42B net loss in 2025, $518B cloud spend planned
Pavel_Asparagus · x · 2026-09-29
A leaked Anthropic IPO prospectus obtained by Reuters reveals: a $42 billion net loss in 2025, planned obligations of $518 billion on cloud, compute and infrastructure in the coming year, revenue up 12x to nearly $4.6 billion in 2025, and over $8 billion in operating losses excluding writedowns tied to previous fundraising. The filing shows explosive growth alongside widening losses — prompting comparisons to Sun Microsystems-era infrastructure burn.
Related event: Anthropic Files for IPO: $2 Trillion Target, $42B Net Loss in FY25(19 posts)→
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