Anthropic files for IPO seeking more than $2 trillion
Anthropic's confidential US IPO filing, reviewed by Reuters, targets a public-market valuation above $2 trillion while reporting revenue of nearly $4.6 billion in 2025 and a nearly $42 billion net loss, driven partly by $34 billion of accounting charges. The company spent $7.33 billion on computing and infrastructure in 2025 and warns of about $518 billion in future cloud and infrastructure obligations, with $20.28 billion in cash on hand. The prospectus devotes roughly 80 pages to risk factors, warning of possible extreme model behaviors and noting safety work consumed about 6% of research compute in a sampled week.
Anthropic seeks a >$2 trillion IPO despite huge losses.
Context
Anthropic started in 2021 and raised multiple large funding rounds through 2026. The…
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