Anthropic reports $16.3 billion in revenue for the first half of the year and prepares for IPO with a multi-billion dollar valuation

Anthropic, the developer of AI assistant Claude, announced that its revenue for the first half of 2026 reached $16.3 billion, a significant increase from the $1.1 billion recorded in the same period the previous year, according to a draft prospectus reviewed by the Wall Street Journal. The company’s spending on computing and infrastructure reached nearly $9 billion, reflecting the scale required to sustain its growth. Anthropic is in the advanced stages of preparing for its initial public offering, with investors discussing a potential valuation of up to $1.5 trillion.

What’s behind the loss?

The same document reports an accounting loss of $80.7 billion for the first half of the year. Of this total, $72 billion is attributed to accounting adjustments related to convertible notes and other financing instruments. These adjustments do not represent a cash outflow but rather reflect changes in the value of securities that can be converted into shares in the future.

Convertible notes are financing instruments that can be converted into shares. Changes in the value of these instruments affect the balance sheet, even without a corresponding cash outflow during the period.

How valuable is this growth?

Revenue continued to rise in the third quarter, reaching $16.8 billion, a 45% increase from the previous quarter, with adjusted profits. However, the growth rate slowed, as second-quarter revenue had more than doubled compared to the first quarter.

Investor discussions suggest a valuation of $1.5 trillion, below the previous expectation of around $2 trillion. This figure does not yet determine the offering price.

In June, the company confidentially submitted Form S-1 to the SEC, the U.S. market regulator. The filing did not specify a price or number of shares and made the operation conditional on regulatory approval and market conditions.

Frequently Asked Questions

• What is Anthropic? It is the artificial intelligence company behind the Claude assistant.
• How much revenue did Anthropic generate in the first half of 2026? $16.3 billion, according to the draft prospectus reviewed by the Wall Street Journal.
• Is an accounting loss a cash outflow? Not necessarily. Adjustments in the value of financial instruments also affect the result.
• What is a convertible note? It is a financing instrument that can be converted into shares.
• What does IPO mean? It is the initial offering of a company’s shares to the market.
• What did Anthropic announce about the IPO in June? The June announcement did not specify a price or number of shares.