Anthropic is preparing for a potentially record-breaking public debut, according to details reviewed by Reuters regarding its initial public offering prospectus. The company's prospectus indicates that its initial public offering could value Anthropic at more than two trillion US dollars.
Financial reports show Anthropic generated revenue of 4.6 billion US dollars in 2025. However, the firm recorded an operating loss that widened to 8.06 billion US dollars during 2025.
Furthermore, Anthropic reported a net loss amounting to nearly 42 billion US dollars for 2025. Spending on computing and infrastructure reached 7.33 billion US dollars for Anthropic in 2025.
The prospectus also outlines plans for substantial future obligations, citing 518 billion US dollars for cloud, computing, and infrastructure in the coming years. As of 31 December 2025, Anthropic held 20.28 billion US dollars in cash, cash equivalents, and short-term investments.
Separately, OpenAI was reported to have confidentially filed for an IPO in June.
