# Anthropic's updated IPO filing shows a $567M operating loss in Q3

> Original title: Anthropic published an updated IPO filing today with its third-quarter results for the first time.

- Source: Rohan Paul
- Published: 2026-11-02T16:01:15.000Z
- Bad Influence: https://badinfluence.news/items/euxjea5jtx2k6n8405zlyo9ys
- Original: https://x.com/rohanpaul_ai/status/2117285920500273582

## Summary

Anthropic's updated IPO filing reports a $567M operating loss in the third quarter, after a $974M operating profit in the second. The post attributes the swing to $5B of short-term compute and a $2B noncash charge for matching employee donations. Total compute commitments are now $895B, and Google's minimum commitment rose to $121B through July 2033.

## Post

Anthropic published an updated IPO filing today with its third-quarter results for the first time.

> Anthropic went from a $974M operating profit in the second quarter to a $567M operating loss in the third. 

The main causes were $5 B of short-term compute, which costs much more than its long-term contracts, and a $2 B noncash charge for matching employee charitable donations.

> Anthropic swung from a $974M second-quarter operating profit to a $567M loss. Compute rose to 58% of revenue, including $5.0B of pricier short-term capacity, and donation matching added $2B of noncash charges.

> Adjusted operating income still rose to $2.5B from $2.2B, but the adjusted margin fell to 15% from 19%. Anthropic expects to use more short-term compute in the near term, which will squeeze margins further.

> The total compute commitment, left blank in the original, is now $895B. 
Of that, $447B  is expected before the end of 2030, $70B is due within 12 months, and $214B carries termination rights or contingent conditions.

> Leases signed but not yet started make up $451B of the $895B total, and $100B was signed after September 30. Another $150B to $175B in deals without fixed dollar amounts sits outside the total.

> Google’s minimum commitment rose to $121B through July 2033, up from $115B in the October 26 filing, after amendments signed through October.

> Operating cash flow was positive at $7B for the 9 months. Liquidity reached $147B on September 30: $96B cash, $36B short-term investments and $15B of available credit.

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