WSJ sees Anthropic's draft IPO filing

East Money

Hong Kong stocks: Hang Seng Index breaks below 23,000 points on heavy volume, AI trading logic shifts

Hong Kong stocks accelerated their decline on October 22, with the Hang Seng Tech Index plunging 5%, while both the Hang Seng Index and the China Enterprises Index fell more than 3% to fresh stage lows. The Hang Seng Index broke below 23,000 points, with full-day turnover expanding to HK$256.051 billion. Large-cap tech and internet stocks led the drop, with Alibaba falling more than 6%. AI hardware-related concepts such as storage, optical communications, and PCBs posted the steepest declines, and risk sentiment spilled over into sectors including gold, nonferrous metals, pharmaceuticals, real estate, and financials. Anthropic's draft prospectus shows a net loss of US$80.7 billion for the first half of its fiscal year, far larger than the US$13 billion in the same period a year earlier, triggering volatility in market expectations.

TMTPost · AGISelected

Anthropic prospectus exposed: revenue of $16.3 billion in half a year, book loss of $80.7 billion

The draft Anthropic IPO prospectus exposed by the media shows revenue of $16.3 billion in the first half of 2026, up nearly 14-fold year-over-year, with a net loss of $80.7 billion, of which about $72 billion comes from the revaluation of financing instruments such as convertible notes. Compute and infrastructure spending in the same period was nearly $9 billion, about 55% of revenue, and the company has also signed over $600 billion in forward compute commitments, which could reach up to $750 billion if additional agreements are finalized, with about 80% of these being irrevocable or take-or-pay arrangements. The article also mentions that of the $16.3 billion in revenue in the first half, more than $3.2 billion came from two major customers, and many major customers have not signed long-term purchase commitments.

WallstreetcnSelected

Anthropic loses $80.7 billion in half a year, compute commitments up to $750 billion, Polymarket gives 17% bankruptcy probability

Data from prediction market platform Polymarket shows that Anthropic has a 17% probability of bankruptcy before the end of 2028. According to its draft S-1 prospectus, the company's net loss in the first half of 2026 exceeded $80.7 billion, of which about $72 billion was non-cash accounting adjustments, with actual operating loss of about $8.7 billion; compute infrastructure committed spending could reach up to $750 billion, and most contracts specify payment regardless of usage. First-half 2026 revenue was $16.3 billion, of which about 20% came from two customers; third-quarter revenue growth slowed quarter-on-quarter from about 140% to 45% to 46%, and some institutions cut the reference valuation from $2 trillion to about $1.5 trillion.

Phoenix Technology

Anthropic's Draft Prospectus Revealed: $16.3 Billion in Revenue for the Half-Year, $80.7 Billion Net Loss

The draft S-1 prospectus for Anthropic, exclusively published by WSJ, shows revenue of $16.3 billion for the first half of the year ended June 30, 2026, and a GAAP net loss of $80.7 billion, of which about $72 billion came from fair value changes in instruments such as convertible notes; excluding that, the ordinary loss was about $8.7 billion. The prospectus also discloses total future infrastructure commitments exceeding $600 billion, and with an additional $150 billion in new deals under negotiation, the potential compute bill could reach as high as $750 billion, of which about $450 billion is irrevocable cloud computing purchase agreements. The filing also flags risks such as Claude potentially exhibiting self-preservation tendencies, and discloses that CEO Dario Amodei and President Daniela Amodei had base salaries of about $655,000 in 2025.

kr36_ai

English translation is being prepared.

cnbeta

English translation is being prepared.

Rohan PaulSelected

WSJ sees Anthropic IPO draft: half-year revenue $16.3 billion, compute commitments about $450 billion

The Anthropic IPO draft seen by WSJ shows half-year revenue of $16.3 billion, a book loss of $80.7 billion, and compute commitments of about $450 billion. The draft discloses fixed payments of $252 billion to three major cloud providers over the next 7 to 10 years, including $111 billion to Google, $110 billion to AWS, and $31 billion to Microsoft, payable whether or not used. There is also over $160 billion in Google chip leasing (via Broadcom) and up to $86 billion in Nvidia GPU rental, plus $150 billion in deals under negotiation.