Anthropic IPO prospectus leaked to Reuters
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, according to the prospectus.
The prospectus details how the company has grown sharply in the last year — while also posting wider losses. Revenue grew 12-fold in 2025 to nearly $4.6 billion, even as the company lost more than $8 billion on an operating basis, excluding writedowns of various liabilities mostly tied to previous fundraising, according to the documents, reported here for the first time.
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