Anthropic's cloud strategy is under strain. According to a leaked S-1 filing reported by TechCrunch, the company is struggling to secure enough capacity from AWS, Google, and Microsoft, which now view the Claude-maker as a rival rather than a customer. Anthropic believes it could spend more than $750 billion on cloud contracts, including deals still being negotiated.
To fill the gap, Anthropic is leasing its own data centers and working with third-party operators, but it worries those operators have limited operating history and may be less reliable than the hyperscalers. The filing also reveals an $80.7 billion net loss in the first half of the year on $16.3 billion in revenue, with two customers accounting for about a fifth of sales.
The company told prospective investors last week that third-quarter revenue reached $16.8 billion, up 45% from the prior quarter. Anthropic is reportedly targeting a November IPO. The filing also warns of potential liability for harmful AI behavior exceeding available insurance coverage, adding to previously reported catastrophic risk disclosures.