Anthropic PBC recorded an $80.7 billion net loss in the first half of 2026, The Wall Street Journal reported on Tuesday. Most reflected accounting charges linked to financing instruments.
A draft initial public offering (IPO) prospectus the newspaper reviewed puts the year-earlier loss at $13 billion. Changes in the value of convertible notes and other fundraising instruments accounted for $72 billion of the latest loss.
Meanwhile, revenue reached $16.3 billion in the six months ended June 30, up from $1.1 billion a year earlier. Computing capacity and infrastructure spending approached $9 billion, compared with $2.3 billion in the same period of 2025.
Anthropic indicated that future computing costs could reach $750 billion, including agreements still under negotiation. That potential total therefore includes spending beyond contracts already agreed.
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However, the artificial intelligence (AI) company warned that securing enough computing power remained uncertain. Its large cloud partners increasingly view it as a competitor.
Customer concentration presents another risk. Just two customers generated about 20% of first-half revenue, and Anthropic expects a small client group to remain important.
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Beyond its finances, Anthropic warned that harmful AI behaviour could expose it to substantial liabilities. Damages from a catastrophic AI-related incident could exceed the insurance it could obtain.
