CoinMeta data: Anthropic had revenue of approximately $4.6 billion in 2025, but its computing and infrastructure expenses amounted to as high as $7.3 billion, resulting in an operating loss of about $8.06 billion. Despite the rapid growth in revenue, the costs of training and serving increasingly powerful models are also rising sharply. Anthropic also disclosed future cloud computing and infrastructure obligations of about $518 billion, indicating that it will consume a large amount of capital during the process of expanding its use of Claude.