In its IPO factsheet released in November, Anthropic disclosed that its revenue run rate reached approximately $81 billion in October 2026, while the total amount of computing power purchase and leasing commitments signed as of the end of September and thereafter was approximately $900 billion. According to the company's disclosed payment schedule, $451.6 billion is expected to occur before the end of 2030, with the vast majority of the remainder payable between 2031 and 2045, and approximately $70.7 billion due in the next 12 months. For comparison, Anthropic held approximately $96 billion in cash and cash equivalents, $36 billion in short-term investments, and approximately $15 billion in available revolving credit facilities as of the end of the third quarter. The company's third-quarter revenue was approximately $17 billion, with computing power and infrastructure costs of approximately $9.9 billion, accounting for approximately 58% of revenue. It is worth noting that the $81 billion is not realized annual revenue, but rather an annualized calculation of the most recent 28 days' pay-as-you-go revenue plus the annualized monthly subscription revenue. The $900 billion is not an immediate payment, but rather a long-term commitment spanning nearly 20 years. The two sets of figures reflect the huge difference in scale between Anthropic's commercial expansion and long-term computing power investment. Future cash flow growth and financing capabilities will be important conditions to support its expansion.
