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).