Anthropic’s potential initial public offering is drawing scrutiny as its latest financial disclosures show slowing quarterly revenue growth, substantial losses and nearly $895 billion in purchase and lease commitments. The company is reportedly seeking a valuation of about $2 trillion, though some investors are now said to expect a figure closer to $1.4 trillion to $1.5 trillion.
The Claude developer reported third-quarter 2026 revenue of $16.96 billion, a 1,127% increase from the same period a year earlier. But revenue growth compared with the previous quarter eased to 47%, following increases of 132% and 144% in the first two quarters, according to CNBC.
Anthropic recorded a loss of $23.29 billion for the three-month period, bringing its total losses for the first nine months of 2026 to $104 billion. Much of the reported deficit came from revaluations of convertible bonds and derivatives. However, the company also posted an operating loss of $567 million in the third quarter, compared with operating profit of $974 million in the previous quarter.
The company’s disclosed commitments, largely intended to expand computing capacity and infrastructure, total more than $895 billion. Most of the planned spending is expected to take place over the next five years. Anthropic also warned that partners might not secure financing to purchase AI chips, putting some of its contracted computing capacity at risk.
The IPO’s share-price range has not been disclosed. Even at the lower valuations now being discussed by investors, the offering would be larger than SpaceX’s $86.2 billion IPO, described in the source report as the biggest to date.
Sources: t3n.