Anthropic reported that its revenue increased fourteen times to $16.3 billion between the first half of 2025 and the first half of 2026.
Adjusted income for Anthropic reached $1.62 billion in the first half of 2026. Net revenue retention for the firm stands at 900 percent. Approximately three-quarters of the company's customers spent at least $100,000 annually during the first half of 2026.
Anthropic holds a fixed minimum of non-cancelable purchase commitments totaling $265.6 billion, with terms ranging from one to 20 years. The company entered into new agreements for infrastructure and compute totaling about $245 billion, also featuring terms of one to 20 years.
Harrison Rolfes of PitchBook models the company's future commitments at approximately $90 billion per year from 2027 to 2030. Costs associated with compute and infrastructure for customers amounted to $2.3 billion in the first half of this year. Anthropic spent $9.7 billion on model development and other items during the first half of the year.
Brendan Burke claimed the S-1 filing captures a period when initial models saw a surge in usage and a lack of compute allowed the firm to charge higher prices. The Opus 5.5 model reduced costs for customers by 40 percent compared to Opus 5.
Gil Luria noted that Amazon Web Services and other cloud providers have become more efficient annually, reducing prices while maintaining steady growth and rising margins.
Anthropic stated, "More capable models help our researchers discover these improvements faster; in turn, more powerful compute multipliers enable us to train even more capable models and deploy them more efficiently." The company warned that using artificial intelligence to develop further AI might cause model capabilities to advance faster than the ability to implement safety, alignment, and security measures.
