# Anthropic IPO Draft Shows $16.3 Billion Revenue, $80.7 Billion Loss in First Half of 2026 By John Kim Canonical URL: https://www.tokenpost.com/news/business/36409 Published: 2026-10-21T06:21:18.000Z Updated: 2026-10-21T06:21:18.000Z Section: Business > About $72 billion of the loss reflects noncash accounting changes. The draft also outlines up to $750 billion in potential computing costs. Anthropic’s draft IPO figures show $16.3 billion in first-half 2026 revenue and an $80.7 billion net loss, spotlighting financing costs and computing demand that also reaches a Bitcoin (BTC) miner. Revenue was $1.1 billion in the comparable 2025 period, making the latest six-month total nearly 15 times as large. It was also more than three times the [$4.59 billion Anthropic generated in all of 2025](), though those figures cover different lengths of time. About $72 billion of the first-half loss came from noncash accounting changes involving convertible notes and other financing instruments. Those changes affected the reported result without equivalent cash payments during the period. The $80.7 billion net loss therefore does not mean Anthropic spent that amount in cash. Anthropic’s net loss for all of 2025 was nearly $42 billion. The new loss figure covers six months, while the earlier figure covers a full year. The draft also sets out as much as $750 billion in potential computing costs over coming years. That amount includes deals still under negotiation and is not a total of signed commitments. It reflects the scale of the capacity Anthropic is considering as revenue grows. Anthropic raised $65 billion in May at a $965 billion post-money valuation. On June 1, the company announced that it had confidentially submitted a draft S-1, giving it the option to pursue a public offering after SEC review. Its June 1 announcement did not specify a share count or offering price. A later snapshot put [third-quarter revenue at $16.8 billion](), exceeding the $16.3 billion recorded across the first half. The comparison shows how quickly sales increased, although one figure covers a quarter and the other covers six months. That demand for computing capacity also involves TeraWulf Inc., a Bitcoin miner. In July, TeraWulf signed a lease to provide Anthropic with about 401 megawatts of critical IT load at its planned Justified Data Campus in Kentucky. The lease’s initial 20-year term begins as leased space is delivered. TeraWulf expects to start delivery in the second half of 2027 and complete it in early 2028. ## Links in this article - [$4.59 billion Anthropic generated in all of 2025](https://www.tokenpost.com/news/business/25344) - [third-quarter revenue at $16.8 billion](https://www.tokenpost.com/news/business/34389)