Anthropic IPO docs reportedly reveal over $40 billion in losses

Anthropic, one of the biggest AI companies in the world, is currently gearing up to go public. As the Claude-maker prepares for a potential blockbuster IPO later this year, Reuters has got its hands on the company's prospectus, which lays out Anthropic's financials and risks for investors.According to the prospectus obtained by Reuters, Anthropic made $4.6 billion in revenue in 2025. That's twelve times its growth in the previous year.But there's bad news, too: The AI company lost more than it brought in last year, Reuters reported. A lot more.Anthropic reportedly lost a whopping $42 billion in 2025. Of that net loss, $8.06 billion was spent on operating costs in 2025, far higher than its 2024 operating costs of $2.98 billion, according to Reuters. In addition, the documents Reuters reviewed stated that compute and infrastructure costs from Anthropic's AI lab amounted to an additional $7.33 billion.