Anthropic reveals amended S-1 outlining huge spending commitments, rising sales

Anthropic ( ANTH.PVT ) released an amended S-1 investor prospectus on Monday, updating its total revenue and spending through the first nine months of the year, showing increased sales and massive spending numbers.

The company said revenue grew $1,026% to $33.2 billion through the first nine months of the year that ended Sept. 30.

The original S-1 , which covered the first six months of the year through June 30, listed revenue of $16.2 billion. Anthropic recorded revenue of $4.6 billion in all of 2025.

Operating losses also improved year over year to -$1.3 billion in the first nine months of 2026 from -$5.2 billion in the same period in 2025.

Anthropic reported an operating loss of $536 million in the September quarter, compared with operating income of $974 million in the June quarter.

The company says the decline is the result of a $5 billion charge for compute under short-term commitments, as well as $2 billion in non-cash charges from its donation matching program.

The AI giant also revealed a staggering aggregate committed spend of $895.4 billion , which it says is primarily related to compute and infrastructure. Some $447.5 billion of that will hit before Dec. 31, 2030, with the remainder coming between 2031 and 2045; $69.8 billion will be due over the next 12 months.

The company's market debut will test investors' appetite for a second public listing by a firm with an already massive valuation. SpaceX ( SPCX ) went public on June 12 at $150 per share and ended the day 20% higher.

Anthropic didn't appear to make many changes to its vast risks section, which outlines possible scenarios in which the company's AI could go out of control, causing damage that even the world's combined insurance industry may not be able to cover.

In an early September essay, CEO Dario Amodei called on the AI industry to slow the development of frontier AI models over fears that they could become too powerful for humans to control. The piece, coupled with statements by former and current researchers at AI companies, sent shockwaves through the industry and raised concerns that the technology could "kill all humans."

Experts dispute those claims, saying that the risks surrounding AI stem from basic cybersecurity protections and from preventing people and governments from using it for things like identity theft, discrimination, and labor displacement.

Email Daniel Howley at dhowley@yahoofinance.com . Follow him on X at @DanielHowley or reach out on Signal or Telegram.