Anthropic cannot cancel most of a $518 billion computing bill.
Reuters read Anthropic's confidential IPO prospectus, which commits at least $518 billion to computing over a decade. About 80% of that cannot be cancelled, including $111.1 billion with Google and $110 billion with Amazon. Revenue grew twelvefold in 2025 to nearly $4.6 billion, and the listing seeks above $2 trillion.
Why it mattersThese are fixed payments, so a slowdown in AI demand hits Anthropic's books either way. The leaked filing is the clearest look yet at what a frontier lab actually owes.
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