An initial public offering prospectus shows Anthropic reported a net loss of about US$42 billion in 2025 and is planning a US listing that could value it at more than US$2 trillion.

The filing says Anthropic has US$518 billion in cloud, computing, and infrastructure obligations in the coming years.

Anthropic has said it will use Amazon Web Services as its primary cloud provider, while Google Cloud and Broadcom will provide additional compute capacity and custom AI accelerators.

Amazon has said it may invest up to US$25 billion in Anthropic under the infrastructure partnership.

The prospectus says Anthropic’s revenue rose 12x to nearly US$4.6 billion in 2025, while its operating loss exceeded US$8 billion, excluding writedowns.

It also says nearly a quarter of the company’s revenue came from two customers.

The filing warns that advanced AI could pose existential risks to humanity after controlled tests found Anthropic’s models could sabotage code, assist fraud, and manipulate information, echoing scenarios the company has tested.

🔗 Source: Reuters

Recent Anthropic developments