Anthropic Prospectus Shows $4.6 Billion Revenue and Heavy Compute Obligations Ahead of Possible $2 Trillion IPO

Anthropic's confidential IPO prospectus has put hard numbers on the Claude maker's growth-and-infrastructure gamble: nearly $4.6 billion in 2025 revenue, more than $8 billion in operating losses and $518 billion in cloud, computing and infrastructure obligations. The prospectus figures point to a possible public valuation above $2 trillion.