Anthropic reported a net loss of $80.7 billion in the first half of 2026, a 521% increase compared to the same period in 2025. The figure includes a $72 billion accounting adjustment for the estimated revaluation of convertible securities, which does not represent actual operational expenses.
The AI company is preparing for an initial public offering scheduled for November. However, recent financial disclosures have prompted some investors to reassess the company's valuation at approximately $1.5 trillion—25% lower than previous estimates and below SpaceX's IPO valuation of $1.77 trillion, which remains the largest in history.