Anthropic, the company behind AI chatbot Claude, reported an operating loss of $567 million in the third quarter of 2026. This came just one quarter after the company reported its first-ever operating profit of $974 million.
Anthropic disclosed that it has committed to spending approximately $895 billion, with almost all of this money going towards computing power, equipment leases and data centres. The company revealed this figure for the first time in its amended IPO filing on Monday, according to Yahoo Finance.
Anthropic's $895 billion computing commitments and cash position
Of the total $895 billion commitments, approximately $70 billion is due within the next 12 months. This adds to the company's financial obligations as it prepares for its proposed initial public offering (IPO). Anthropic had approximately $132 billion in cash and short-term investments at the end of September, meaning its total commitments are nearly seven times its available cash.
Despite reporting an operating loss, Anthropic recorded strong revenue growth. Its revenue increased to approximately $17 billion in the third quarter, compared with $11.6 billion in the second quarter.
{{/usCountry}}Despite reporting an operating loss, Anthropic recorded strong revenue growth. Its revenue increased to approximately $17 billion in the third quarter, compared with $11.6 billion in the second quarter.
{{/usCountry}}Anthropic's third-quarter results included a $2 billion non-cash charge linked to a donation-matching programme. This charge contributed to the company's reported loss.
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Rising AI computing costs and operating losses
Anthropic usually books most of its computing capacity 12 to 18 months in advance. However, customer demand exceeded its available computing capacity in the previous quarter, forcing the company to arrange additional computing resources.
To meet the additional demand, Anthropic purchased $5 billion worth of short-term computing capacity. The company said this computing currently costs significantly more than the long-term agreements it has signed. The higher costs have added pressure on its finances.
Three days before Anthropic's latest filing, Seaport Research Partners analyst Jay Goldberg told Yahoo Finance that Anthropic's profitability could be temporary. He said the company could return to profitability for the next one or two quarters before slipping back into losses.
Broadcom, Google and Amazon lead Anthropic's spending commitments
Anthropic's purchase commitments jumped to approximately $314 billion, compared with $55 billion at the end of 2025. This is a major increase in the company's planned spending on equipment and infrastructure.
Broadcom (AVGO) tops the list of Anthropic's major infrastructure commitments, with approximately $161 billion linked to equipment leases.
Alphabet's Google (GOOGL) has approximately $121 billion in commitments from Anthropic. This is higher than the $114.5 billion reported in its first filing.
SpaceX's artificial intelligence unit has commitments worth up to $120.5 billion, while Amazon (AMZN) has approximately $110 billion in commitments, according to the filing.
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Apart from the commitments already included in the $895 billion figure, Anthropic plans to spend another $125 billion to $150 billion on Google's chips. It also expects to spend more than $20 billion with chipmaker AMD (AMD). Neither amount is included in the $895 billion total because the deals do not have fixed dollar commitments.
Anthropic IPO: Share dilution and investor concerns
Anthropic has 1.77 billion stock options outstanding. It has also set aside up to 2.95 billion shares for a new equity plan.
Seaport Research Partners analyst Jay Goldberg said Anthropic's IPO appears to have a challenging setup. The company's return to operating losses, huge future computing commitments and potential share dilution could become important concerns for investors evaluating the offering, according to Yahoo Finance.