Anthropic returns to operating loss as short-term compute costs rise

Anthropic reported a $567 million third-quarter operating loss after a $974 million operating profit in the second quarter, according to an amended IPO prospectus described by Yahoo Finance. The amendment adds quarterly results omitted from last week's initial filing. Revenue rose to $17 billion from $11.6 billion, while operating expenses increased to $17.5 billion from $10.6 billion. Anthropic primarily attributed the loss to short-term compute purchases, which cost more than capacity under multi-year agreements, and also cited $2 billion in non-cash employee donation matching charges. Excluding stock-based pay and charitable charges, adjusted operating margin remained positive at 15%, down from 19%.