Anthropic files S-1 showing rapid revenue growth and huge compute bills
Original title: Anthropic opens its books for Wall Street, showing record revenue and mounting obligations
First-half 2026 revenue was $16.3 billion, while locked-in compute commitments are about $780 to $810 billion.
Anthropic publicly filed an S-1 to list on Nasdaq under the ticker ANT, with Goldman Sachs and Morgan Stanley leading the offering. The prospectus reports revenue rising from $376 million in Q1 2025 to $11.6 billion in Q2 2026, $16.3 billion for the first half of 2026, and a first positive GAAP operating profit of $974 million in that quarter. About 80 percent of revenue is usage-based, net revenue retention is roughly 900 percent, and five customers make up 25 percent of revenue. Compute contracts with providers including Broadcom, Google, Amazon and Microsoft total roughly $780 to $810 billion, while Q3 figures were left out of the filing.
Unconfirmed: The roughly $2 trillion valuation is a Wall Street expectation reported by Yahoo Finance, not a set offering price; reasons for omitting Q3 are speculative.
- Yahoo Finance cites a Wall Street valuation expectation of roughly $2 trillion.
- More than 11,900 customers pay over $100,000 a year; about 250 pay over $10 million.
- Government contracts are about one percent of revenue; policy-violating use is about 5 to 7 percent.
- Claude Enterprise users who also use Claude Code spend about 20 times more.
- Anthropic is building its own data centers under the name Anthropic Direct.
- Vendors
- Anthropic
- Products
- Claude EnterpriseClaude Code
- Organizations
- Goldman SachsMorgan StanleySEC
From the original article
3 min read at the-decoder.com
Anthropic is the first major AI lab to file an S-1 with the SEC, planning to list on the Nasdaq under the ticker "ANT." The numbers are strong, with $11. 6 billion in quarterly revenue, a first-ever operating profit, and existing customers spending nine times more year over year.
By Matthias Bastian · the-decoder.com
A short excerpt; the article and its images belong to the publisher. Summary, key facts and assessment above are AI-written from the article and can be wrong.