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Anthropic's filing shows $17B quarterly revenue, a $23.3B loss and $895B in commitments

Anthropic updated its filing to list its shares on the stock market. Bloomberg reports that its revenue for the third quarter was nearly $17 billion, 12 times more than a year earlier. Its net loss was $23.3 billion, up from $12.1 billion in the same quarter of 2025, and its operating expenses rose 292% to $17.5 billion. CNBC reports that the filing lists $895.4 billion in purchase commitments and lease agreements, "substantially all of which is related to compute and infrastructure". Separately, the Wall Street Journal reports that institutional investors told Anthropic its listing value should be about $1.5 trillion to $1.6 trillion, down from estimates of $2 trillion, citing a tech stock selloff.

Why it matters: These are the clearest numbers yet on what it costs to build frontier AI: revenue is growing fast, but spending on computing is growing faster.
Company filing, reported by several outletsTechmeme