Anthropic seeking $2 tn valuation in IPO despite $42-billion loss

Anthropic's IPO prospectus revealed that the company is seeking a valuation of more than $2 trillion despite reporting a $42-billion net loss in 2025. Its revenue grew 12-fold to nearly $4.6 billion, even as it posted an operating loss of over $8 billion. The company plans to spend $518 billion on cloud, computing and infrastructure commitments in the coming years.