Anthropic Files for Nasdaq IPO as H1 Revenue Surges 13x
AI unicorn Anthropic has filed for a Nasdaq IPO under the ticker 'ANT'. The prospectus reveals that H1 2026 revenue surged to $16.286 billion, a 13x year-over-year increase, with adjusted operating profit turning positive. While net losses widened due to convertible note fair value changes, the company holds over $100 billion in cash and has signed long-term compute leasing agreements totaling more than $500 billion to fuel future growth.
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The prospectus reveals that the company’s performance is exhibiting rapid growth. In 2025, revenue reached $4.585 billion (IT Home note: approximately RMB 30.616 billion at current exchange rates), with a net loss of $41.965 billion (approximately RMB 280.219 billion). Revenue surged to $16.286 billion in the first half of 2026 (approximately RMB 108.749 billion), representing a year-over-year increase of more than 13 times. Although the net loss for the period widened to $8.0748 billion (approximately RMB 539.19 billion), operating losses narrowed significantly to $693 million (approximately RMB 4.627 billion), and adjusted operating income turned positive at $1.6 billion (approximately RMB 10.684 billion). The company explained that revenue expansion and improved efficiency in compute operations have driven core business improvements. The substantial book losses are primarily attributed to fair value changes in convertible notes, rather than actual operational expenditures.
Additionally, the company has achieved a leapfrog expansion in its customer base. As of the end of June 2026, the number of paying customers with annual revenues exceeding $100,000 (approximately RMB 668,000) surpassed 6,000, growing more than tenfold from just 400 customers in little over a year. The continuous rollout of new products in the Claude series has driven simultaneous growth in both subscription and usage-based revenue streams.
Compute infrastructure represents the largest future expenditure item. As of the end of June this year, Anthropic held $112.4 billion (approximately RMB 750.545 billion) in cash equivalents and $19.3 billion (approximately RMB 128.875 billion) in short-term investments, ensuring ample liquidity reserves. Meanwhile, the company has signed massive long-term compute leasing agreements, with committed minimum future payments totaling approximately $417 billion (approximately RMB 2.78 trillion). Pending finalization of terms, additional agreements will incur another $125–150 billion (approximately RMB 834.681 billion – 1 trillion) in expenses for procuring servers, data centers, and cloud resources, with payment cycles spanning multiple years. The company stated that it will continue to intensify investment in compute capacity, relying on revenue and equity financing to support capital expenditures.