Anthropic IPO prospectus shows sweeping AI vision, surging costs
Reuters got some of the IPO docs. Anthropic is a total dog of a company. Spent $12.6bn to make $4.6bn in revenue in 2025, $7.33bn of which was compute costs. Operating loss of $8bn. Losses getting worse year over year. Amazing stuff www.reuters.com/business/fin...
Ed Zitron354Other fun facts from the story: 1. nearly a quarter of Anthropic's 2025 revenues came from two customers 2. These numbers *include* the revenue share from Amazon/Google selling their models.
Josh254I feel very confident that if someone gave me 12.6 billion dollars then I could turn that into 4.6 bullion no problem
Chris Bellomy80I'm glad so many big IT shops are setting up critical dependencies on companies so unlikely to exist 18 months from now
Peter Principle65You can make a small fortune in AI. But you have to start with a really large fortune.
MikeyT0064It's the real world dropout bit "I took one hundred thousand dollars and turned it into sixteen thousand dollars"
Sergeant Strings40So Ed, in your professional opinion, is that good?
Comfortably Numb118"So, what's your company valuation?" "2 trillion dollars" "What are you basing it on?" "We lost 42 billion dollars last year" bsky.app/profile/edzi...
hailey36ed conveniently forgetting this part. lol.
Pavel29Few remember the ancient bygone days of spring 2026, when we were reliably told by leading technology brothers that Anthropic was actually profitable (because Anthropic had said so and only stupid fools would doubt them).
玄光11a lotta yall still dont get it ape holders can use multiple slurp juices on a single ape so if you have 1 astro ape and 3 slurp juices you can create 3 new apes Tonight's slurp juice mint event is essentially a minting event for both Lab Monkes and Special Forces
animal from the international network10they wrecked the consumer electronics market, destroyed education, and got hundreds of thousands of people prematurely fired (some of them already rehired!) just to do... this
A Dead Sinking Rory6Oh please oh please oh please
Velma R👀t6Sounds like the IRS should reclassify Anthropic as a hobby not a legit business since they take a loss year after year. No business loss or operating expense deductions for you, chuds!
Dr. Tamara L. Siuda6Admittedly math is not my strong suit, but these numbers do not look like good numbers for anybody
Kim McCauley6Buying shares in Anthropic at a $2T valuation is obviously a really stupid investment that no one should make, but I also think that a company with revenue growth that big and a product as popular as theirs is gonna be fine
Nick Pettigrew6This is like when somebody goes onto Dragon's Den with a company that makes unicycle grease and asks for seven million pounds for 1% stake despite not yet having made a single jar of unicycle grease.
If I’m reading this right, Anthropic has no choice but to IPO now because it doesn’t have the money to cover its computing / infrastructure obligations next year
Courtney Milan120And if they don’t make a trillion dollars or so on the IPO they’re out of runway.
Limecello8Having a loss of 42 billion and just barreling on. ... ... ...
C.V. Danes4The amount of money being pissed down the drain is insane. They could literally have solved any number of issues currently plaguing humankind and instead they blew it on software that can't do math. Just unbelievable. Sickening, really. Pathological.
Jeremy Diamond ☕️1The article is written in a very unclear way. They put 2025 revenue next to 2026-2027 projected capital expenditures. Meanwhile, their revenue has exploded specifically starting at the end of 2025 and the beginning of 2026. Also, FWIW, all the scuttlebutt is that they are now profitable.
Susan Kaye Quinn is Writing Solarpunk 🌞🌱1I just want these fuckers to pay us, then they can die
Elizabeth1How completely absurd is it that Anthropic reported a net loss of $42 billion in 2025 and plans to spend $518 billion more? Must be nice to count on a golden-bailout no matter how bad you perform. Can you imagine if you ran your finances that way?
Andrew2Ladies and gentlethems... It's Happening.
I assume the Anthropic IPO will be one zillion jillion times oversubscribed, pop 50-100% on day 1, bleed out down 50-75% over the next eight months, and finally rally back from the dead, aka the exact same pattern every IPO has had for the past five years
president, Spreadsheet Persons Local 15312every publicly traded stock now must go through its mandatory rug pull phase
Jen d’Arc5So you’re telling me you’re not a TDOC investor…
dhauge3x2Airbnb gets me every time
bagholdercapital.bsky.social1Yes, but the ease to get 100% notional short without the death risk is very appealing.
dxmnkd3161You could probably even go back to Facebook with the same playbook.
Scoop from @reuters.com's Echo Wang: Anthropic plans to spent HALF A TRILLION DOLLARS in the coming years on cloud, computing and infrastructure obligations. www.reuters.com/business/fin...
2025 numbers from Anthropic’s IPO prospectus: • Revenue: $4.6B, up 12x • Total operating expenses: $12.65B • Operating loss: $8.06B • Cash + investments: $20.28B • Future cloud obligations: $518B 🤯 • Nearly 25% of revenue came from just 2 customers Anthropic is targeting a valuation above $2T.
Anthropic's IPO prospectus shows sweeping AI vision, surging costs. But the cost to get there will be staggering. Anthropic reported a net loss of $42 billion in 2025, and plans to spend $518 billion on cloud, computing and infrastructure obligations in coming year. www.cnbc.com/2026/09/28/a...
Ava Huang2The $518 billion spend underscores how much cloud and infra Anthropic sees as essential for scaling its AI models.
Doremus Jessup2Anthropic wasn't included in this WSJ analysis of companies with off book debt obligations so I'm sure they're fine /s apple.news/AJpdT_pfoQ4C...
Deweyswak1I am old enough to remember all the armchair critics when Jeff Bezos started Amazon.
Tom Hearden27So just help me out. They said in July on a $65 bil revenue run rate (maybe heading to $100b) Gross margins indeed.
Jake Charles8THATS *MORE THAN* HALF A TRILLION DOLLARS IN ONE YEAR. I’m sorry but everything is Monopoly money now. That’s just how it is - I don’t make the rules.
Jeremy Diamond ☕️7I don’t know why this was written and reported this way, but putting 2025 revenue (mostly prior to Claude Code popping off) next to 2026-2027 capex projections is obviously misleading.
Jess4Asking my bank if I can keep my house since I lost 42 billion dollars last year and also if they can give me some more money.
Trending Finance4Anthropic: AI moonshot, money inferno. #econsky
NightOwl2i'm reporting a net loss of $500 million-bajillion for 2026 but i have a plan to spend $250000 million-bajillion in 2027 on an a self driving AI equipped t shirt robot that makes garments on demand out of thin air, cutting out tee middle men ready to go with your design on it we are the dreamers!
Patrick Osgood2These horrific financials make it easier to imagine the terrible changes in the economy and society - including the vast opportunity cost losses from malinvestment - are required for Anthropic and peers to ever make good. Imperatives for Butlerian Jihad and sane double-entry bookkeeping converging
