About Anthropic PBC: What does the company do?
Anthropic PBC was founded in 2021 by former OpenAI employees, including Dario Amodei and Daniela Amodei. PBC stands for Public Benefit Corporation. The company develops AI products, and its main product is Claude.
Today, Claude is widely used for coding, research, and business tasks. Businesses can also connect Claude to their tools and use it for work such as customer support, data analysis and software development
Anthropic makes money by charging businesses and developers for access to its AI models. The amount customers pay depends on how much they use these services. They have also placed a strong focus on AI safety.
Anthropic IPO: What’s driving its revenue?
Anthropic’s revenue has grown very fast over the past few years. Its IPO filing shows how demand for its AI products has increased. Here’s a quick overview of its revenue:
The revenue rose from $386 million in FY24 to $4.59 billion in FY25. The jump continued in 2026 as well. In the first six months of the year, the company earned more than 14 times the revenue it earned during the same period in 2025.
Around 80% of its first-half 2026 revenue came from customers paying based on usage. Along with that, its customer base has also grown. More than 11,900 customers generated at least $1,00,000 in revenue for Anthropic over the 12 months ending in September 2026. More than 1,900 customers generated at least $1 million each.
India is another important market for the company. India accounted for 7.12% of its global usage. Anthropic also opened an office in Bengaluru in February 2026.
Why does Anthropic still report losses?
Despite showing huge growth in revenue, Anthropic is still making losses. Here are the loss figures reported in its IPO filing:
The first-half 2026 net loss exceeded the company’s revenue for the same period. That’s a huge number by the look of it. Around ₹72.4 billion of the reported loss was linked to changes in the estimated value of convertible notes, derivative liabilities and related financing arrangements.
This is just an accounting expense. It doesn’t mean that Anthropic paid ₹72.4 billion in cash to run its business during those 6 months. However, the company has also reported an operating loss of $693 million in the first half of 2026. But this loss has decreased from $2.14 billion in the first half of 2025.
Anthropic is still spending a lot of money to build and run its AI services. Its computing and infrastructure expenses reached $8.95 billion in the first half of 2026, from $2.33 billion in the previous year.
Training and running AI models need a lot of computing power as well as infrastructure. As more and more customers use Claude, these costs can rise even further. Though the company’s revenue is rising quickly, its costs also need to be looked at.
Anthropic IPO: Record-breaking valuation
Reports suggest that the valuation of the Anthropic IPO could be around $1.5 trillion to $2 trillion. At an exchange rate of ₹95 per USD, a $1.5 trillion valuation comes to around ₹143 lakh crore. The actual valuation will be known when the company announces its share price and other details of the offering.
A company’s valuation shows how much the market thinks the business is worth. A high valuation usually means that the investors are expecting strong growth in the future. However, Anthropic operates in a fast-growing industry with many other companies developing AI models. Strong revenue today doesn’t guarantee that the company will continue to grow at the same rate.
The bottom line
As an Indian investor, the Anthropic IPO gives you a chance to see how a top AI company makes money and how global markets price that growth. However, you should keep in mind that this is a US listing, not an Indian IPO. You cannot apply for Anthropic shares through NSE or BSE.
As a long-term investor in India, you can build a diversified portfolio through mutual funds. For global exposure, you can look for international funds through platforms like Millions, which offer a seamless way to invest in SIP plans. Make sure to understand the underlying assets, risk level and investment horizon before investing your money.
