Anthropic’s amended IPO filing shows compute costs took up 58% of its revenue in the third quarter, up from 48% in the second, and that bigger compute bill was a main reason its operating loss widened even as revenue grew to $17 billion from $11.5 billion. Anthropic spent $10 billion on compute in the quarter, and half of it came through short-term deals that the filing says cost significantly more than compute bought under multi-year contracts. Anthropic expects compute to keep growing in dollar terms and remain its single biggest expense going forward, since more capacity from its multi-year cloud deals is still coming online.
