Goldman Sachs $GS analysts have projected a cash burn above $65 billion for Anthropic in 2027, according to The New York Times. The analysts forecast a further $41 billion in 2028 in private discussions with investors. Goldman Sachs is leading Anthropic's initial public offering.
Krishna Rao, Anthropic's chief financial officer, said "We are in aggressive investment mode" in a marketing video for the offering, without discussing specific spending forecasts, according to The Times.
The company's prospectus shows it generated cash from its business in the first nine months of 2026 and has barely spent the $141 billion it raised privately, The Times reported. The prospectus also anticipates about $40 billion in expenses in coming years tied to existing employee stock grants that have not yet reached the company's accounting books. The Nasdaq $NDAQ listing is expected Nov. 19.
Anthropic set a price range of $70 to $78 per share on Nov. 10, valuing the company at $1.26 trillion to $1.41 trillion, according to a separate report by The New York Times. Seven technology companies, including Google $GOOGL, Nvidia $NVDA, and Microsoft $MSFT, have committed to put up to $26 billion in total in...