Anthropic IPO Filing: $42 Billion Loss, $2 Trillion Valuation Target & Warning Of Existential Risks

Anthropic, the company behind Claude AI, reported a $42 billion loss in 2025 and plans to spend as much as $518 billion on cloud computing and infrastructure in the coming years, according to its IPO prospectus seen by Reuters. The filing highlights the enormous costs involved in building advanced AI models, while also warning that increasingly capable AI systems could pose “catastrophic or existential risks to humanity”. Anthropic is targeting a valuation of more than $2 trillion through its planned stock market listing, more than double the $965 billion valuation it reached in its Series H funding round in May.