Anthropic Files for IPO: Revenue Surges 12x, Net Loss $42B, Debt $518B

Anthropic has initiated IPO preparations, reporting 2025 revenue of $4.6 billion (12x growth) but a net loss of $42 billion, partly from accounting charges on financing instruments, and $518 billion in debt. The massive debt and losses raise questions about valuation and financial sustainability, though revenue growth signals strong demand for AI. The IPO will test investor appetite for high-growth, capital-intensive AI firms.