Anthropic has committed to spend nearly $900 billion on AI infrastructure in the coming years, according to updated S1 filings ahead of its planned IPO next month. Revenue grew nearly 50 percent to $17 billion in the third quarter, though growth has slowed compared to earlier in the year. Spending on chips, power and infrastructure surged 77 percent to $9.9 billion, with data centre expenses reaching 58 percent of revenue.
The Claude maker generated $1.2 billion in interest income and its net loss narrowed to $23.3 billion from $66.2 billion in the prior quarter. After reporting operating profit in the second quarter, Anthropic swung to a $567 million loss, primarily due to an additional $5 billion in computing costs. The filing directly discloses $895.4 billion in purchase commitments and lease agreements for computing power, of which $447.5 billion is expected before the end of 2030.
Anthropic warned expensive short-term contracts hit its operating margin. The company said it committed to spend more than $3 billion a month with Elon Musk's Space X alone. Anthropic's backers anticipate a valuation between $1.5 trillion and $2 trillion.
The IPO could eclipse SpaceX's $86 billion raise as the biggest listing of all time, coming amid a tech-dominated US stock market sell-off. The Nasdaq 100 fell 3.5 percent on Friday, capping its worst month in over a year, while the Philadelphia Semiconductor index tumbled 7.2 percent.
Source: Financial Times Companies · Summarized by HeadlinesBriefing