Anthropic's IPO prospectus shows it spent $482 million on its own property and equipment in the first half of 2026, but $8.9 billion renting computing from others, nearly four times the year-earlier amount. Four non-cancellable deals total about $430 billion by Yahoo Finance's calculation, led by Broadcom at about $161 billion, followed by Google (about $115 billion), Amazon ($110 billion) and Microsoft (about $45 billion). Two softer deals add about $121 billion with SpaceX's (SPCX) AI unit, which either side can end on 90 days' notice after early 2027, and about $86 billion with Nscale and Lambda for Nvidia chips, bringing the named total to about $637 billion. These commitments equal about 22% each of the backlogs of Amazon Web Services ($496 billion) and Google Cloud ($514 billion) as of June 30, pointing to a large share of those providers' future revenue. In the first half, Anthropic booked $16.3 billion in revenue and an $80.7 billion net loss, mainly from a $72.4 billion non-cash charge as its convertible notes and similar securities rose in value.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
AnthropicIPOcloud computingdata centers
Open a keyword to see other news on the same topic.
Related tickers and likely impact
MSFT
▲ Likely positiveMicrosoft
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 10/23/2026 | 524.53 |
| Change that session | +0.66% |
NVDA
▲ Likely positiveNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/23/2026 | 211.00 |
| Change that session | -0.57% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Anthropic relies on Google, Amazon and Microsoft for nearly half its revenue
Anthropic generated 48% of its revenue in the first half of 2026 through cloud marketplace sales from Google, Amazon and Microsoft, up from 11% in 2023, according to its IPO filing published Monday. The company paid channel partners, including the cloud providers, $2.7 billion more than a year earlier; the providers bill customers and pass payments to Anthropic after deducting their fees. Anthropic reported second-quarter sales of $11.6 billion and an operating profit of $974 million. Amazon has invested about $18 billion and Google about $23 billion, and Anthropic has committed to spend at least $114.5 billion with Google through 2033, $110 billion with Amazon through 2036 and $44.9 billion with Microsoft. The filing warns that the cloud companies act as investors, customers, distribution partners and competitors at once, and could favor their own AI models.
- Anthropic's Public IPO Filing Shows a $266 Billion Cloud Risk
- Anthropic S-1 shows cloud marketplaces carried 48% of first-half revenue
- Anthropic's $750 Billion Compute Bill Could Delay Its Path to Profitability
According to a draft S-1 filing reported by The Wall Street Journal, Anthropic could spend up to $750 billion on compute over roughly the next decade, including $450 billion in noncancelable cloud contracts. The bulk of that goes to Alphabet ($160 billion for processors leased through Broadcom and $111 billion for Google Cloud), Amazon Web Services ($110 billion), Nvidia ($86 billion) and Microsoft ($31 billion). Revenue reached $16.3 billion in the first half of this year, up from $1.1 billion in the same period of 2025, but losses hit $80 billion, of which $72 billion came from an accounting adjustment tied to convertible notes. The article says GAAP profitability looks distant, even though the company was slightly profitable on an adjusted basis in the third quarter, and that losing a major customer could pressure margins, since two customers account for 20% of revenue.
- Anthropic's Revenue Surged to $16.3 Billion in the First Half of 2026, Up From $1.1 Billion a Year Ago
According to disclosures from a draft IPO prospectus reported by The Wall Street Journal, Anthropic generated around $16.3 billion in revenue in the first half of 2026, up from $1.1 billion a year earlier, while spending nearly $9 billion on computing capacity. It has committed to around $450 billion in mostly noncancelable computing agreements over seven to 10 years, and is negotiating deals that could raise total commitments by up to $150 billion. The company posted an $80.7 billion net loss in H1 2026, of which $72 billion came from accounting charges tied to convertible notes and other fundraising instruments. The draft also flags risks, including about one-fifth of revenue coming from two customers, data center backlash, liability from misaligned AI models, and possibly insufficient insurance against catastrophic AI incidents. The company is reportedly targeting a valuation of up to $2 trillion, which the article says would be over 60 times annualized H1 2026 revenue.
- Anthropic Has Over $600 Billion in Compute Contracts — And It's Not Enough
Anthropic PBC has signed up for more than $600 billion in long-term computing capacity. Its draft IPO prospectus, however, says the company still cannot secure as much compute as it wants.
Related markets
Latest news
- Microsoft puts up to 60,000 jobs at risk
Microsoft has put up to 60,000 jobs at risk, including roles in the UK, as it seeks to cut costs and turns to AI to complete more tasks. The company is offering a time-limited voluntary “buyout” package to eligible staff in the US, Canada, India and the UK in finance, HR, AI, Microsoft Copilot and Xbox, but not to those in data centres, sales, marketing, cybersecurity or quantum computing. In a July buyout for retirement-age staff, more than 30% of 8,750 eligible workers accepted, and Microsoft expects a lower acceptance rate this round. The company has about 223,000 workers globally, including 6,000 in Britain, and is due to report results on Wednesday.
- Micron Climbs 4% as Bank of America Grows More Positive on Memory; Western Digital Rises 5%, SanDisk Gains 3%
Bank of America met Micron executives and came away more positive on memory, as customers now lock in supply deals of three to five years instead of a year or less. Analyst Vivek Arya kept a Buy rating and a $1,550 price target on Micron. Micron shares rose 4% to $913.77, Western Digital gained 5% to $362.32 and SanDisk rose 3% to $1,271.99, while the Roundhill Memory ETF (DRAM) gained 4% and the SPDR S&P 500 ETF Trust (SPY) rose 0.65%. The article also notes that SK Hynix is in the news over a Bloomberg report of a special dividend funded by gains from its Kioxia stake sale, though the company says nothing has been decided and it will announce shareholder returns with its third-quarter 2026 results. It adds that these longer contracts have yet to be tested through a downturn.
- Intel Rises 5% as New Street Upgrade Cites Server CPU Shortage; AMD and NVIDIA Gain 3%
New Street Research upgraded Intel to Buy from Neutral with a $125 price target, days before the company reports third-quarter 2026 results. Analyst Pierre Ferragu said agentic AI is driving sustained growth in server CPU demand, with supply constraints expected to persist for years, while Intel is retiring older nodes and adding capacity. Intel shares rose 5% to $91.36, AMD gained 3% to $532.26 and NVIDIA rose 3% to $216.29, while the iShares Semiconductor ETF (SOXX) climbed 4% to $496.02 and the Invesco QQQ Trust gained 1% to $714.41. Unlike AMD and NVIDIA, which rely on outside manufacturers, Intel designs and makes its own chips and runs a foundry business, so its results are closely tied to plant performance. The bullish case depends on data center demand staying strong, and the article notes that building capacity is costly and only pays off if Intel can produce enough chips to meet demand.
- You Can Do Better Than Nike. Buy This High-Yield Dividend Stock Instead.
The article compares Nike with Procter & Gamble (PG). Nike's fiscal first-quarter revenue (ended August 31) fell 5% after adjusting for currency effects, and its share price dropped nearly 40% through October 22 this year, while the S&P 500 gained 12%. P&G kept growing, with fiscal first-quarter sales (ended September 30) up 4% on an adjusted basis, higher volume contributing 2.4 percentage points, and the stock up 15.6% this year. The article highlights brands such as Head & Shoulders, Tide, Gillette and Pampers, which it says have high market shares and steady demand even in downturns. P&G's fiscal 2026 free cash flow of $15.1 billion comfortably covered $10.2 billion in dividends. The company has paid dividends for 136 years and raised them for 70 straight years, making it a Dividend King, with a 2.6% dividend yield versus 1.1% for the S&P 500.
- Microsoft, Amazon and Google “Will Beat Their Numbers” as a $2 Trillion Cloud Backlog Builds
Bloomberg Intelligence analyst Mandeep Singh says Microsoft, Amazon and Alphabet will beat consensus estimates as their cloud businesses accelerate over the next three or four quarters, supported by a combined backlog of about $2 trillion across Amazon, Microsoft, Alphabet and Oracle. The latest reported backlogs total about $2.35 trillion: Microsoft $678 billion, Oracle $664 billion, Google Cloud $514 billion and AWS $496 billion. AWS revenue rose 37% to $42.2 billion in the second quarter, Google Cloud revenue rose 82% to $24.8 billion, and Amazon CEO Andy Jassy said 2027 is largely sold out. Power and chips are the main constraints: Alphabet expects to spend $195 billion to $205 billion this year, more than double its $91.5 billion in 2025, and some Amazon AI servers are reportedly waiting on power. The article also notes that OpenAI made up about 45% of Microsoft's backlog in December 2025, and Meta's stock fell after it signaled much higher AI spending next year.
- Walmart (WMT) Joins Meta's AI Commerce Push as Retailers Explore Agentic Shopping
Burke Wealth Management's Q3 2026 investor letter for its Focused Growth Strategy reports a 10.8% net composite return, versus 2.3% for the S&P 500 Total Return Index, and a 20.0% year-to-date return against 12.7% for the benchmark. Burke partly attributes the strength to a sharp recovery in enterprise software, which it sees as a platform connecting AI models with proprietary business data, while cautioning that AI agents could challenge traditional software business models and seat-based pricing. In the same letter, Burke points to Meta's Muse partnerships with 20 large retailers, including Walmart, to help jump-start retailers' move toward agentic shopping. Walmart closed at about $119.89 on October 23, 2026, with a market capitalization of about $954.07 billion and a one-month return of 10.74%. The article also notes that 111 hedge fund portfolios held Walmart at the end of the second quarter, up from 99 in the previous quarter.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.