Anthropic is planning an IPO and filed their draft S-1 prospectus in June! They were circulating that draft S-1 around their investors last month. And it leaked to Reuters, who wrote it up.
Anthropic’s money situation is as bad as we thought. Actual revenue in 2025 was $4.6 billion. Just the operating expenses were $12.65 billion, for an operating loss of $8 billion. They spent $2.75 to make each dollar that came in:
https://pivot-to-ai.com/2026/10/01/anthropic-ipo-filing-the-disaster-in-numbers/
hahahahaha
@cstross
Can anyone whose grasp of economics is better than mine tell me if the dodgy accounting for the hyperscaler data centers is already included in those $2.75?
For context:
https://www.groundbrkr.com/p/the-teaser-period-why-the-ai-boom
The Teaser Period: Why the AI Boom Is Hitting a Reset Wall