Anthropic lost $80.7 billion in six months But that number needs context The company behind Claude has officially filed to go public, seeking a Nasdaq listing under the ticker ANT Its S-1 filing shows $16.3 billion in revenue for the first half of 2026, up from $1.2 billion in the same period last year The reported net loss was $80.7 billion But roughly $72 billion of that came from non-cash accounting charges tied to changes in the value of convertible financing instruments That doesn't mean Anthropic spent $80.7 billion in cash It still spent around $9 billion on computing and infrastructure in just six months The filing also lays bare how much infrastructure the company is committing to secure its place in the AI race Anthropic has disclosed hundreds of billions of dollars in future payment obligations across cloud computing, equipment and other infrastructure agreements The company hasn't announced its final IPO price or target valuation But reports suggest investors could value it at as much as $2 trillion It's a revealing look at the economics of frontier AI Revenue is growing at extraordinary speed, but so are the costs of building and running the systems behind it