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Anthropic reveals plans for blockbuster IPO

The filing sets up the San Francisco company for a Wall Street debut next month in what could be the biggest ever initial public sale of stock.

This first look at financials shows a loss in the first six months of this year and that just two unnamed customers were responsible for nearly a quarter (23%) of all money customers owed.

No single customer represented more than 10% of revenue for the nine months up to September; the top five customers represented approximately 25% of revenue for the period, the company said.

Such concentration of revenue could fuel fears that AI spending is circular and is mostly from a handful of large companies.

Huge sums

A massive 1,300% revenue growth was recorded in the six months to 30 June 2026, bringing in $16.3bn.

But this could mark a high point, with the company saying, “we cannot assure you [revenue] will continue to grow at all”.

Existing customers spend roughly nine times what they did a year ago with net revenue retention at about 900%, the filing said.

Net loss widened sharply to $80.7bn.

However, almost all of that figure – $72.4bn – is down to an accounting charge caused by Anthropic’s own valuation soaring.

The bulk of the remaining losses came from a near-$9bn outlay on computing power and infrastructure.

The operating loss was $693m.

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