Anthropic IPO filing reveals $60B in partner commitments

Anthropic disclosed in its IPO filing that it has contracts with eight partners to spend more than $60 billion over the next 10 years, according to aitimes.com. The filing also shows the company's commitments to its largest cloud and compute partners: at least $11.45 billion to Google through 2033, $11 billion to Amazon through 2036 and $4.49 billion to Microsoft.

The minimum payout to the three companies adds up to $26.94 billion. Revenue generated through the Amazon, Google and Microsoft clouds rose from 11% of the total in 2023 to 48% in the first half of this year, the filing shows.

Sales, marketing and partnership costs surged from $120 million in the year-earlier period to $3.2 billion in the first half of this year. Of that increase, $2.7 billion came from fees paid to distribution partners including cloud providers.

Revenue growth and narrowing losses

Anthropic's first-half revenue was $16.29 billion, about 14 times the year-earlier level, and its operating loss narrowed from $2.14 billion to $693 million. In the second quarter, the company posted revenue of $11.6 billion and operating profit of $974 million.

The size and offering price of Anthropic's IPO have not yet been decided, and the company said it may take on additional borrowing. The filing also reported a first-half net loss of $80.7 billion, which largely reflected a fair-value revaluation loss on convertible bonds tied to a rise in corporate value.