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IPO prospectus: Anthropic reports a net loss of $42B in 2025 and plans to spend $518B on cloud, computing, and infrastructure obligations in the coming year (Echo Wang/Reuters)

Techmeme ·
Anthropic’s IPO filing shows losses and infrastructure commitments at a scale usually reserved for the largest tech balance sheets.

Reuters says the prospectus reports a $42B net loss for 2025. It also says Anthropic plans $518B in cloud, computing, and infrastructure obligations over the coming year. The figures frame the company’s public-market pitch around the cost of building and running frontier AI. Techmeme’s note

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