Anthropic is struggling to secure sufficient cloud capacity from major providers AWS, Google, and Microsoft, which increasingly view the AI startup as a competitor, according to a leaked S-1 filing reported by TechCrunch. The company anticipates spending more than $750 billion on cloud contracts, including deals still under negotiation, as it prepares for a November IPO.
The leaked filing reveals that Anthropic is supplementing cloud capacity by leasing its own data centers and partnering with third-party operators, though it expresses concerns about their limited operating history and reliability compared to hyperscalers. The company reported an $80.7 billion net loss in the first half of the year alongside $16.3 billion in revenue, with just two customers accounting for about 20% of sales, according to the Wall Street Journal cited by TechCrunch.
Anthropic’s cloud capacity issues come amid rapid revenue growth, with third-quarter revenue reaching $16.8 billion, a 45% increase from the previous quarter. The filing also highlights potential liabilities for damages caused by harmful AI behavior that could exceed available insurance coverage. This situation underscores the challenges AI firms face balancing infrastructure needs and risk management while scaling operations.
Anthropic’s planned IPO in November will provide further insight into its financial health and cloud strategy. The company’s reliance on multiple cloud and data center sources, combined with its massive projected cloud spending, marks a critical phase in its growth trajectory, as detailed in the leaked S-1 filing.