Anthropic

A draft IPO prospectus viewed by The Wall Street Journal on Oct 20, 2026 shows Anthropic generated $16.3B of revenue in H1 2026, up from $1.1B a year earlier, with a net loss of $80.7B, of which $72B stemmed from non-cash adjustments tied to convertible notes and financing instruments. It discloses roughly $450B of cloud compute agreements over the next decade, including $111B with Google Cloud, $110B with AWS and $31B with Microsoft, says it could spend up to $750B on compute, and notes about 20% of H1 revenue came from two customers. These are the first prospectus-level financials and risk disclosures ahead of the planned November listing and bear directly on its IPO valuation.

Source: The Wall Street Journal

Nscale is in talks to sell computing power to Anthropic in a deal that could be worth about $45 billion, Bloomberg News reported on 19 October 2026, citing people familiar with the negotiations. The talks cover a second facility at Nscale's Monarch data centre campus in West Virginia, and come a day after Microsoft pulled out of an anchor deal for Nscale's Loughton site. A second deal of this size would add a large block of contracted backlog just as Nscale prepares its NYSE IPO.

Source: Bloomberg

On 2026-10-18 Anthropic said that, subject to stockholder approval, it will commit 5% of its shares to the Anthropic Public Benefit Fund, a new wholly-owned LLC. The board may add a further 2% for every 50% increase in the company's value above a set baseline. Anthropic said roughly 20% of its shares would then be dedicated to the public good. For Anthropic, this is a pre-IPO equity commitment that dilutes existing holders and grows as the valuation rises.

Source: Anthropic

On 16 October EverWind Fuels announced a data centre campus at Point Tupper, Nova Scotia, which it will build and own, and Anthropic will lease the first phase for at least 20 years, Anthropic's first data centre in Canada. EverWind plans C$10 billion of private investment, C$8 billion for the data centre and C$2 billion for onshore wind, starting with a 95MW phase in late 2027 and reaching 420MW at full build. The signed long-term lease adds a new infrastructure geography and long-dated capacity commitments for Anthropic's Claude models.

Source: Reuters

Some investors who attended Anthropic's 14 October investor day in San Francisco discussed a valuation of around $1.5 trillion, a significant step down from the roughly $2 trillion previously expected for the November share sale, Reuters reported on 15 October citing people familiar with the matter. The tempering follows Anthropic's disclosure that Q3 revenue rose 45% to $16.8 billion, a slowdown from earlier in the year, amid concerns over the cost of financing AI. For Anthropic this lowers the reference valuation for its IPO and for secondary pricing of its shares.

Source: Reuters

At its pre-IPO investor meeting on 2026-10-14, Anthropic said third-quarter revenue reached $16.8 billion, up from about $11.6 billion in the second quarter and $4.7 billion in the first, according to the FT, Reuters and CNBC. It said it was profitable on an adjusted basis and cash-flow positive in the quarter, generating $1.70 in revenue for every dollar spent on compute, per the FT. These are the company's first disclosed quarterly financials ahead of an IPO reportedly slated for November, and they set a fundamental reference point for its valuation.

Source: Financial Times

On 8 October 2026 the Financial Times reported, citing financial documents shared with investors, that OpenAI's annualised revenue is about $20bn less than previously signalled. Yahoo Finance, summarising the FT, said annualized revenue was roughly $50 billion as of September, against the $70 billion figure previously circulated, which investors had derived from an earlier $40 billion estimate and a reported 70% growth rate; the Nasdaq fell more than 300 points after the report. The report undercuts the run-rate behind the stored ~$70B ARR signal and OpenAI's recent valuation.

Source: Financial Times

On 2026-10-07 Anthropic released Claude Haiku 5.5, the third model in its Claude 5.5 family, at $0.10 per million input tokens and $0.50 per million output tokens for requests below 100,000 tokens, a 90% cut versus Haiku 4.5 that matches OpenAI's GPT-6 Luna, according to VentureBeat. Above 100,000 tokens the price is $0.50/$2.50, a 50% reduction, and Anthropic estimates workloads cost about 75% less than on Haiku 4.5; Reuters framed the launch as expanding its lineup before the planned IPO. It completes Anthropic's 5.5 generation and sharpens price competition with OpenAI in high-volume small-model API workloads weeks before its listing.

Source: Reuters