Anthropic IPO prospectus sets out $518 billion in planned infrastructure obligations

Anthropic has circulated an IPO prospectus to a small group of partners that says it plans $518 billion in cloud, computing and infrastructure obligations in the coming years, Ars Technica reports. The filing also warns investors about potential AI model behavior, including manipulation and blackmail. People familiar with the filing said two customers accounted for close to a quarter of Anthropic's revenue last year. Those spending plans and customer concentration are material risks for investors assessing its expected autumn Nasdaq listing.