Anthropic’s net loss shrank to $23.29 billion in the quarter ended Sept. 30 from $66.3 billion in the previous quarter, and revenue grew to $16.96 billion from $11.56 billion, an updated SEC filing shows. The updated Form S-1 was submitted on Monday. The amended filing extends financial disclosures from the initial prospectus, which covered only the first half of the year.
For the first nine months of 2026, the Claude developer reported revenue of $33.24 billion and a net loss of $104 billion. Revenue for the first nine months climbed about 1,200 percent from the corresponding period a year earlier. The company generated $16.29 billion in revenue in the first half, up 1,304 percent from $1.16 billion in the same period of 2025. For all of 2025, revenue was $4.59 billion, a 1,089 percent increase over the previous year.
Losses have grown alongside revenue. The nine-month net loss of $104 billion compares with $25.1 billion in the same period of 2025. For the first half of 2026, the loss was $80.7 billion, compared with $12.9 billion in the year-earlier period. For the full year 2025, losses reached $41.9 billion, compared with $8.3 billion in 2024. Much of the reported loss stemmed from changes in the fair value of convertible notes and derivative liabilities, the filing said.
The filing highlights $895.4 billion in purchase commitments and lease agreements, almost all of it linked to computing capacity and infrastructure. Running advanced AI models demands heavy spending on computing power, specialized hardware and data center capacity. Those resources serve both model training and daily operations as companies and consumers adopt AI services.
Anthropic, founded five years ago, is best known for Claude, a family of AI models used by businesses and other customers. Rather than focusing on individual users, the company has concentrated on business customers. It first filed its IPO prospectus last week. The Globe and Mail said the IPO filing, submitted last week, could lead to the largest public listing on record while investors assess the huge capital going into AI infrastructure.
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Sam Okafor covers capital markets, public listings and corporate finance for Venturist. He writes from filings, earnings releases and published reporting.