Anthropic, the company behind Claude models, is experiencing rapid but decelerating growth, with annualized revenue reaching approximately $65 billion by July 2026, up from just $9 billion earlier that year. The company is reportedly preparing for an IPO in November 2026 with a valuation target close to $2 trillion, but faces substantial losses including a total net loss of approximately $42 billion and operating losses exceeding $8 billion for 2025. Its non-cancellable compute and infrastructure commitments total around $518 billion over the next decade, including $111 billion with Google and $110 to $111 billion with Amazon. Revenue concentration remains a vulnerability, with two clients accounting for approximately 25% of 2025 revenue. In September 2026, CEO Dario Amodei called for a coordinated industry approach to slow the pace of AI capability advancements.
Source: Read the original article
