Anthropic files for Nasdaq IPO with $80.7B loss

The company’s revenue is driven primarily by usage-based API fees, which accounted for about 80% of sales, alongside subscription plans. Usage-based revenue reached approximately $13.064 billion in the first half of 2026. Anthropic attributes this growth to enterprise adoption of tools like Claude Code and Claude Cowork, which handle complex development and office tasks. The number of customers with trailing 12-month revenue over $100,000 surged to more than 11,900, up from over 950 a year earlier.

Computing costs remain a major burden, with infrastructure expenses hitting approximately $8.945 billion, or about 55% of total sales. Anthropic has signed long-term contracts with partners like Google and Amazon for compute resources, creating a dynamic where key suppliers are also competitors. To maintain its AI safety mission post-IPO, the company will operate as a Public Benefit Corporation. A legal entity formed by its seven founders will hold 50.1% of voting rights, and a trust will appoint a majority of the board, ensuring governance is not solely driven by short-term shareholder interests.