Anthropic disclosed an IPO prospectus during a challenging market, reporting an $80 billion net loss for the first half of the year and hundreds of billions of dollars in compute commitments. Results from Microsoft, Alphabet and Amazon intensified concerns about infrastructure spending, borrowing costs and weakening free cash flow. Amazon posted negative free cash flow of $42.4 billion over 12 months, while Google reported an outflow of $9.1 billion. Anthropic will need to reassure skeptical investors about the viability of its business despite continued strength in cloud demand and 1,300% annual sales growth.
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