Anthropic Anthropic, PBC

“Our operating loss was $693 million for the six months ended June 30, 2026 , down from $2.1 billion for the six months ended June 30, 2025. … Adjusted Operating Income, which was $1.6 billion for the six months ended June 30, 2026, up from Adjusted Operating Loss of $1.8 billion for the six months …”

“Change in fair value of convertible notes, derivative liabilities, and SAFEs 1,045 5,434 34,308 10,942 72,388 … Net cash provided by (used in) operating activities (1,627) (5,692) (2,637) (1,513) 3,929”

“In April 2026, we entered into an agreement with Amazon, pursuant to which we committed to spend an aggregate of at least $110.0 billion between May 2026 and April 2036, regardless of actual usage. … If our actual spend falls short, we must pay Amazon the difference as a true-up subject to certain …”

“In March 2026, we entered into an agreement with Google, which was subsequently amended between May and August 2026, and pursuant to which we committed to spend at least approximately $114.5 billion between April 2026 and July 2033, regardless of actual usage. … If our actual spend falls short, we …”

“In November 2025, we entered into an agreement with Microsoft, which was subsequently amended in February and October 2026, pursuant to which we committed to spend an aggregate of at least $44.9 billion between November 2026 and May 2033, regardless of actual usage. … Our commitment under such …”

“Compute and infrastructure $ 2,334 $ 8,945 $ 6,611 283 % Percentage of revenue 201 % 55 % … The increase was driven by the delivery of committed compute throughout the first half of 2026 under our CSP arrangements.”

“In aggregate, the contractual obligations in the table below plus the short-term and subsequent commitments, as well as leases not yet commenced, each described in the paragraphs below are approximately $ , substantially all of which is related to compute and infrastructure.”

“As filed with the Securities and Exchange Commission on October 26, 2026 … We have applied to list our Class A common stock on the Nasdaq Global Select Market under the symbol “ANT.””

“losses included change in fair value of convertible notes, derivative liabilities, and SAFEs of $1.0 billion , $5.4 billion , and $34.3 billion for the years ended December 31, 2023, 2024, and 2025, respectively , and $72.4 billion for the six months ended June 30, 2026 , primarily driven by an …”

“We expect operating margin and Adjusted Operating Margin to fluctuate over time, particularly in periods when substantial incremental compute is delivered to us and we incur the associated expenses.”

“We have incurred net losses in each year since our founding, including a net loss of $1.5 billion , $8.3 billion , and $42.0 billion for the years ended December 31, 2023, 2024, and 2025, respectively, and $80.7 billion for the six months ended June 30, 2026 , and we may not achieve or sustain …”

“Our operating loss was $693 million for the six months ended June 30, 2026 , down from $2.1 billion for the six months ended June 30, 2025.”

“In the six months ended June 30, 2026, our revenue was $16.3 billion , representing a year-over-year growth rate of 1,300% .”

“However, our revenue is primarily consumption-based, and much of it is not subject to long-term contractual commitments, while our compute and infrastructure commitments generally extend over multiple years.”

“We have a history of net losses and may not generate sufficient revenue to achieve or sustain profitability in the future. … We have incurred net losses in each year since our founding, including a net loss of $1.5 billion , $8.3 billion , and $42.0 billion for the years ended December 31, 2023, …”

“The majority of the world’s most advanced chip manufacturing capacity is concentrated in Taiwan, primarily at Taiwan Semiconductor Manufacturing Company (“TSMC”). … TSMC has, at times, been unable to fully satisfy market demand for chip manufacturing capacity, and as a result, we have not always …”

“In addition, to date we have financed our compute primarily under arrangements with CSPs, with costs recognized as compute is made available to us. … We may in the future finance a greater portion of our compute on an up-front basis, including through capital leases, prepayments, debt-financed …”

“We signed agreements with Amazon for up to five gigawatts of new capacity, with Google and Broadcom for five gigawatts of next-generation TPU capacity, and with SpaceX for access to GPU capacity in Colossus 1 and Colossus 2. ／ AWS remains our primary cloud provider and training partner.”

“The round was co-led by Capital Group, Coatue, D1 Capital Partners, GIC, ICONIQ, and XN. ／ Significant investors in this round include AMP PBC, Baillie Gifford, Blackstone, Brookfield, D.E. Shaw Ventures, DST Global, Fidelity Management & Research Company, General Catalyst, Insight Partners, Jane Street, Lightspeed Venture Partners, MGX, NTTVC, NX1 Capital, Situational Awareness LP, T. Rowe Price Associates, Inc., T. Rowe Price Investment Management, Inc., and Temasek. ／ It also includes $15 billion of previously committed investments from hyperscalers, including $5 billion from Amazon.”

“Joining them are strategic infrastructure partners — Micron, Samsung, and SK hynix — whose technologies play a critical role in the world's supply of memory, storage, and logic chips.”

“Anthropic has raised $65 billion in Series H funding led by Altimeter Capital, Dragoneer, Greenoaks, and Sequoia Capital, valuing the company at $965 billion post-money. ／ our run-rate revenue crossed $47 billion earlier this month”

“is expected to bring well over a gigawatt of capacity online in 2026.”

“we plan to expand our use of Google Cloud technologies, including up to one million TPUs … The expansion is worth tens of billions of dollars”