Anthropic just posted a whopping half-yearly loss of $114 billion – and its valuation has plunged too

The loss, up from US$13bn (A$19bn) a year earlier, was driven by US$72bn (A$103bn) in ‌accounting charges tied to changes in the value of financial instruments Anthropic issued to raise money, the report said on Tuesday, citing a draft prospectus for its IPO. The figures show the hefty costs of the AI race, even as investors look harder at whether the money companies are pouring into chips and ‌data centres ‌will pay off. Anthropic’s ⁠revenue jumped to US$16.3 bn (A$23.3bn) in the six months ended June 30 ​from US$1.1bn (A$1.6bn) a year ago, while AI infrastructure spending nearly quadrupled to almost US$9bn (A$13bn), the Journal said. Anthropic did not respond to a request for comment and Reuters could not immediately verify the report.

First reported by Startup Daily. This page is a short excerpt; the full text is theirs.