Anthropic faces cloud supply challenges amid rising costs and IPO hopes

Anthropic is struggling to secure sufficient cloud computing resources from AWS, Google, and Microsoft, which are increasingly viewing the company as a competitor rather than a client, according to a leaked S-1 filing. The filing, shared with The Wall Street Journal, reveals that Anthropic could spend up to $750 billion on cloud contracts over the coming years, with some deals still under negotiation. Despite these efforts, the company is also leasing its own data centers and partnering with third-party operators, though it expresses concerns about their limited operational experience. The firm reported an $80.7 billion net loss in the first half of 2026, despite generating $16.3 billion in revenue during the same period. Only two customers accounted for roughly a fifth of its sales. The filing also highlights potential liability risks from harmful AI behavior, which could exceed available insurance coverage. Last week, Anthropic disclosed that its third-quarter revenue reached $16.8 billion, a 45% increase from the previous quarter, with an IPO planned for November.