Anthropic's net loss narrowed to $23.29 billion during the third quarter from $66.31 billion in the second quarter as its revenue rose to $16.96 billion from $11.56 billion, according to an amended S-1 prospectus filed with the Securities and Exchange Commission on Monday.
For the first nine months of 2026, Anthropic reported a net loss of $104 billion, compared with $25.1 billion in the same period last year, while revenue rose to $33.2 billion from $2.5 billion.
The nine-month loss included $94.3 billion in charges from changes in the fair value of convertible notes, derivative liabilities, and simple agreements for future equity, primarily driven by an increase in Anthropic's valuation, the firm said.
Anthropic also swung to a $567 million operating loss in the third quarter from a $974 million operating profit in the second, driven by $5 billion in short-term compute commitments and $2 billion in non-cash charges related to its employee charitable-giving matching scheme.
Total compute and infrastructure costs for the third quarter came in at $9.86 billion, up from $5.56 billion in the prior quarter, driven by the delivery of committed compute under Anthropic's multi-year arrangements. However, this has reduced to 58% of revenue from 148% in the same quarter last year.
Anthropic discloses $895 billion in AI infrastructure commitments
According to the filing, Anthropic's aggregate contractual obligations, plus short-term and subsequent commitments, as well as leases not yet commenced, are now approximately $895.4 billion, substantially all of which is related to compute and infrastructure.
Of those commitments, approximately $447.5 billion is expected to be incurred before the end of 2030, with $69.8 billion due in the 12 months following Sept. 30, 2026.
Anthropic filed to go public last week and intends to list on the Nasdaq under the ticker ANT. The firm is reportedly targeting an IPO during the week of Nov. 16.