Anthropic net loss widens to $80.7 billion in H1 2026 ahead of IPO

AI startup Anthropic reported a net loss of $80.7 billion in the first half of 2026, up from $13 billion in the same period last year, according to a draft IPO prospectus cited in reports by Reuters and The Wall Street Journal.

The loss included $72 billion in accounting charges linked to changes in the value of convertible notes and other financial instruments issued by the company to raise funds. These charges reflected changes in the instruments’ estimated value rather than equivalent cash expenditure on operations.

The Claude maker's revenue rose to $16.3 billion in the six months ended June 30, 2026, from $1.1 billion a year earlier. Spending on computing capacity and infrastructure nearly quadrupled to almost $9 billion during the period.

The disclosures come as investors scrutinise the cost of developing and deploying AI models, including spending on computing infrastructure, and assess whether the investments can generate sustainable returns.

Anthropic is expected to pursue an initial public offering as early as November 2026. Reuters reported that some existing and prospective investors were considering a valuation of around $1.5 trillion, below the roughly $2 trillion previously anticipated for the offering, following the company’s latest financial disclosures.