Meanwhile, Anthropic's IPO paperwork: an $80.7B loss and $600B+ in compute bills

The draft filing gives the first hard look at a frontier lab's books: $16.3 billion in revenue in the first half of 2026, up from $1.1 billion a year earlier — and an $80.7 billion net loss, mostly a $72 billion non-cash accounting charge on convertible notes.

The heavier number is the compute bill: more than $600 billion in future cloud and compute commitments, with another $150 billion under negotiation. Anthropic declined to comment; a public filing is expected as soon as November.