Anthropic Prepares November IPO Amid Warnings Over Compute Costs
Anthropic is preparing for a November initial public offering while analysts warn of massive planned expenditures on AI compute infrastructure.
AI company Anthropic is preparing for an initial public offering scheduled for November. The company's S-1 filing reveals a significant narrowing of operating losses, which dropped from over $2 billion in the first half of 2025 to less than $700 million in the first half of 2026.
Retail trader Ed Elson cautioned that investors may be misinterpreting this financial improvement. Elson noted that the company faces massive future expenditures, specifically planning to spend as much as $150 billion on AI compute next year. This represents a sharp increase from the $8.9 billion spent during the first half of 2026.
According to Elson, Anthropic must build its own compute infrastructure to reduce its dependency on cloud providers like Google, a partner with whom the company also competes. He argued that many investors are overlooking these future commitments because they are not yet active and therefore do not appear on the current income statement.
