Anthropic disclosed $895.4 billion in computing and infrastructure purchase commitments and lease agreements as of 30 September in an amended IPO filing released on 2 November, Investor’s Business Daily reported. The amended S-1 prospectus updates the paperwork for its planned stock-market listing, first published on 26 October, with new spending commitments and third-quarter results.
Key points
- About $447.5 billion of the commitments falls due before the end of 2030.
- Third-quarter revenue reached $17 billion, while the net loss reached $23.3 billion.
- Anthropic obtains computing power through contracts with Amazon, Google, Microsoft and SpaceX.
- Media reports put the potential IPO valuation between $1.5 trillion and $2 trillion.
Anthropic’s commitments run through 2045
About $447.5 billion of the commitments will be incurred before the end of 2030, with the remainder due between 2031 and 2045. The spending concerns access to computing power and infrastructure. Yahoo Finance reported the total as about $895 billion and said $70 billion is due before September 2027.
Anthropic’s Claude models require computing capacity for training and operation. The company obtains that capacity through contracts with Amazon, Alphabet’s Google, Microsoft and SpaceX, among others. About $70 billion of Anthropic’s spending commitments is due before September 2027, Yahoo Finance reported.
The commitments belong to Anthropic, which is paying for access to suppliers’ computing infrastructure. Its quarterly results put the scale of that expense alongside the revenue generated by its AI business. The filing also separates the timetable for those commitments from costs already recorded in the latest quarter.
Third-quarter revenue reaches $17 billion
Anthropic reported third-quarter revenue of $17 billion, up more than 1,100 percent from $1.4 billion a year earlier. Sales growth slowed from previous quarters amid competition from OpenAI’s ChatGPT and cheaper models, including models from China, Yahoo Finance reported.
The company’s operating loss narrowed to $567 million from $3 billion in the corresponding quarter of 2025. Operating expenses rose nearly 300 percent year on year to $17.5 billion, Investor’s Business Daily reported. Anthropic paid more for short-term computing capacity during the quarter.
Its net loss reached $23.3 billion, compared with $12 billion a year earlier. The company attributed much of the loss to a change in the fair value of convertible notes issued in its fundraising, rather than to operating costs. Yahoo Finance described the charges as largely non-cash and linked to Anthropic’s rising valuation.
An earlier AI Affairs report covered $33.24 billion in revenue and a $104 billion loss added to Anthropic’s IPO prospectus. The third-quarter operating and net losses present different measures of its performance: the latter includes the valuation-related charge on its convertible notes.
Anthropic targets a Nasdaq listing
Anthropic plans to list on Nasdaq under the ticker ANT. Its IPO is expected later in November. The company has not yet filed pricing details, Investor’s Business Daily reported.
Media outlets expect Anthropic to seek around $100 billion in the offering at a valuation between $1.5 trillion and $2 trillion, according to Yahoo Finance. That reported fundraising target would exceed the $86 billion SpaceX raised in June, which Yahoo Finance described as a record.
The company’s public benefit corporation structure requires it to weigh its AI safety mission alongside shareholder returns. Co-founders Dario and Daniela Amodei would hold 50.1 percent of voting power through a single special share, leaving buyers of publicly traded shares with limited influence over company decisions.
Anthropic could begin marketing the IPO as soon as 9 November, the New York Post reported, citing the amended filing.
