Anthropic’s Draft IPO Filing Shows Revenue Up Nearly 15x
H1 revenue rose from $1.1B to $16.3B, against more than $600B in compute commitments.
The numbers behind Anthropic’s IPO are out, in draft.
The Wall Street Journal has reviewed a draft of Anthropic’s IPO prospectus. The WSJ sums up the filing as “red-hot growth, massive computing costs and an $80 billion net loss.” @kimmonismus summarized the figures: Anthropic reportedly grew revenue nearly 15x while taking on more than $600B in future compute commitments.
| Measure | Figure |
|---|---|
| H1 revenue | $1.1B to $16.3B |
| Compute and infrastructure spending | $2.3B to nearly $9B |
| Cloud contracts | $450B, mostly noncancelable |
| Under negotiation | Another $150B |
| Future compute commitments | More than $600B |
| Net loss | $80 billion |
Revenue is outrunning compute, for now.
@kimmonismus reads the filing as revenue scaling much faster than compute costs. “But the commitments are enormous,” he writes: $450B in cloud contracts, mostly noncancelable, plus other infrastructure deals, with another $150B under negotiation.
Anthropic still aims for a $2t valuation, he says. “I think that’s still very realistic.”
This morning’s Mid-morning Edition reported that OpenAI is rushing a ~$30B raise at $1.4T+ so it closes before Anthropic’s IPO in mid-November.
Sources
- @kimmonismus on X · Oct 20, 12:43 PM PT