Anthropic discloses $660 million non‑cash charitable stock‑matching expense

Employees hired before 2025 receive a 3:1 match on up to 50% of their equity grants, while those hired in 2025 or later get a 1:1 match on up to 25%. Approximately $125 million of the expense landed in Q1 2026 alone, about 10% of total employee expenses and around 2% of operating costs.

The charge is reportedly excluded from Anthropic’s adjusted profit metrics, raising concerns that investors may see a rosier picture than the full books support. As the company’s equity becomes more liquid, the charitable expense could climb into the billions, potentially affecting future filings and investor perception.