The Wall Street Journal reported on October 20, 2026 that it viewed a new draft prospectus as Anthropic prepares a large IPO.
What the draft shows
- The Journal said the draft shows rapid revenue growth together with many risks and massive computing costs.
- Risks called out include a narrow customer base and uncertain access to the computing capacity Anthropic needs.
First-half loss and revenue
- Anthropic recorded a net loss of $80.7 billion in the first half of 2026.
- WSJ reporter Anissa Gardizy tied that loss to accounting adjustments.
- The Journal compared it with a net loss of $13 billion in the same period a year earlier.
- First-half 2026 revenue was $16.3 billion, versus $1.1 billion in the first half of 2025.
- About 20% of revenue came from two customers.
Computing-capacity spending
- Anthropic said it could spend $750 billion in the coming years to obtain more computing capacity.
- That figure includes agreements still under negotiation.
Primary source: The Wall Street Journal — Anthropic Draft IPO Filing Shows Red-Hot Growth, Many Risks and Massive Computing Costs (October 20, 2026; Chinese edition dated October 21, 2026).