The key facts

  • Anthropic may spend $750 billion on computing capacity, including unfinished deals — WSJ citing a draft IPO prospectus
  • Net loss for the first half of 2026 — $80.7 billion versus $13 billion a year earlier; about $72 billion was accounting expenses
  • Contracts worth ~$450 billion over 7–10 years: Google Cloud — $111 billion, AWS — $110 billion, Microsoft — $31 billion

Largest computing expenses before going public

Anthropic may spend $750 billion on additional computing capacity in the coming years as part of preparations for its initial public offering (IPO), The Wall Street Journal reported on Tuesday, citing a draft IPO prospectus. The outlet notes that this amount includes deals that are still in the negotiation stage.

Losses and expense structure

The developer of the AI assistant Claude recorded a net loss of $80.7 billion for the first half of 2026, versus $13 billion for the same period a year earlier. According to the WSJ, about $72 billion of the latest loss is related to accounting expenses due to changes in the value of convertible notes and other financial instruments of the company. Expenses on computing capacity and infrastructure for the six months through June amounted to nearly $9 billion, versus $2.3 billion a year earlier; first-half expenses also exceeded the $7.3 billion recorded for the whole of 2025.

Contracts with cloud providers

The draft prospectus describes computing agreements totaling about $450 billion over the next 7–10 years, most of which, according to the WSJ, cannot be terminated. They include plans to spend $111 billion on contracts with Google Cloud, $110 billion with Amazon Web Services, and $31 billion with Microsoft.

Next steps and risks

Anthropic is expected to publicly file IPO documents in the coming weeks, as the company seeks additional funding for chips, data centers, and staff to develop its AI models. The prospectus also notes risks associated with AI systems, including the possibility that models may exhibit behavior aimed at avoiding shutdown or produce responses resembling blackmail. In addition, political opposition to data center construction in the US, where most of Anthropic's computing capacity is located, is named as a potential risk.