Spending Big, Still Short on Capacity
The filing lays out how far Anthropic is willing to go. The company projects it could spend more than $750 billion on cloud contracts, and some of those deals are still being negotiated, according to Reuters and the Financial Times. That kind of commitment has not been enough on its own.
So Anthropic is now leasing its own data centers and working with third-party operators. The filing is candid about the downside of the second route: the company flags the “limited operating history” of those operators, which could make them less dependable than the established hyperscalers.
$80.7 Billion in Losses, 45% Quarterly Growth
The financial picture explains the urgency. The numbers reported so far:
- First-half net loss of $80.7 billion
- First-half revenue of $16.3 billion, with two customers accounting for about a fifth of sales, per the WSJ
- Third-quarter revenue of $16.8 billion, up 45% from the prior quarter, as the company told prospective investors
Anthropic is reportedly targeting a November IPO. The leaked filing also repeats earlier warnings about catastrophic risks and says Anthropic could be liable for damages from harmful AI behavior, with potential losses that may exceed its insurance coverage.
Anthropic did not immediately respond to TechCrunch’s request for comment.
Hashlytics Take
A company growing revenue 45% in a single quarter is not short of demand. It is short of supply, and the supply sits with companies that now compete with it. That makes the $750 billion figure less a spending plan than a measure of dependence: Anthropic is committing to pay landlords who would rather keep the best floors for their own models. Leasing its own data centers is the logical escape, but it trades hyperscaler reluctance for operator risk, which the filing itself admits. Investors reading this in November should weigh the revenue curve against who controls the power and chips behind it.
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