S-1: Anthropic spent ~$2.50 on compute and infrastructure for every $1 of revenue in Q1 2025, falling to under 50 cents in Q2 2026, as it seeks profitability (Financial Times)

Anthropic S-1: of its $80.7B net loss in H1 2026, nearly $9B came from computing power and infrastructure, and it has nearly $800B in commitments over 10 years (Financial Times)

Sources: Anthropic told investors that its revenue jumped to $16.8B in Q3, up from $11.5B in Q2, and that the company was profitable on an adjusted basis in Q3 (Financial Times)

Sources: some Anthropic investors discussed a ~$1.5T valuation for its IPO, down from ~$2T they had expected, after disclosures showed slowing Q3 revenue growth (Reuters)