Anthropic IPO could value AI lab above $2 trillion after $42 billion loss

Anthropic’s IPO could value the AI company at more than $2 trillion after FY25 revenue jumped 1,088% to $4.59 bln, with two customers generating nearly 25% of sales.

Anthropic reported a net loss of $42 billion in 2025 and plans to spend $518 billion on cloud, computing and infrastructure obligations in the coming year, according to the IPO prospectus seen by Reuters.