🤖 Anthropic didn't turn a profit in 2025 and lost $42 billion that year

Even though the company is operating at a net loss, Anthropic still plans to spend a further $518 billion on cloud, computing and infrastructure obligations in coming years, as part of Dario Amodei's bet that AI will "profoundly transform the economy" more so than the Industrial Revolution and the Internet did.

The $42 billion in losses add up to $8 billion lost in 2024.

Anthropic had cash, cash equivalents and short-term investments totaling $20.28 billion as of December 31, the prospectus shows.

Anthropic said nearly a quarter of its revenue came from two customers last year, and as part of its risk factors, warned that many of its largest clients were not locked into long-term contracts and could cut or stop spending.

Dario Amodei still hopes to launch Anthropic's IPO with an alleged valuation of $2 trillion but these dismal figures raise questions as to when if ever will Anthropic be able to launch its IPO and if they somehow do, it will be far lower than the $2 trillion estimation.

📝: The 2025 numbers are before Anthropic started losing market share to Chinese open source AI models which cost a fraction to use compared to Anthropic's own models.

2026's figures for the company will be abysmal. Also, notice how Anthropic losing market share to Chinese open source LLMs coincides with "AIs going rogue" and Anthropic going on a press tour demanding that AI companies halt development of frontier models and urging the U.S. government to ban Chinese open source LLMs.

This is the work of a company who is struggling financially and cannot compete in a free and fair marketplace.

🔗 https://www.reuters.com/business/finance/anthropics-ipo-prospectus-shows-sweeping-ai-vision-surging-costs-2026-09-28/