Anthropic's $2T IPO Filing Reveals $42B Loss, $518B Cost Bet
Anthropic's prospectus offers founders and VCs a rare look at frontier AI's capital intensity: 12x revenue growth to $4.6 billion came with a $42 billion net loss and $518 billion in forward infrastructure commitments. The $2 trillion-plus IPO target signals that late-stage capital is betting on AI dominance, but the path from hypergrowth to profitability remains untested.