Sources: Anthropic's available compute capacity will reach 3.5 gigawatts by the end of this year.

AI giant Anthropic filed its S-1 prospectus last week and is expected to complete a record-breaking IPO this month, stirring Wall Street sentiment. On Monday the company updated its prospectus, disclosing impressive growth figures, but risks on the spending side are equally prominent. Over the past year Anthropic has signed a large number of computing power procurement contracts, locking in computing resources to train and run AI large models, betting that surging demand can cover the massive investment. The updated S-1 shows Anthropic's third-quarter revenue was $17 billion, 12 times higher year-on-year and up 47% from the second quarter; but its net loss was $23 billion, with the quarter-on-quarter growth rate easing from 144% in the previous quarter. As of 2045, Anthropic's total commitments for data centers, chips, and computing power procurement amount to as much as $895.4 billion; within the next 12 months, nearly $70 billion in contract payments will begin to come due. Two people familiar with the matter revealed: by the end of this year, the company's available computing power will reach 3.5 gigawatts, enough to supply electricity to all households in Chicago; next year's target is to double computing power again. Anthropic is even deeply involved in data center design, recruiting infrastructure and supply chain experts, and purchasing hardware such as cooling systems from contractors. Its top competitor OpenAI is likewise investing frantically in computing power. People familiar with the matter revealed that OpenAI expects total computing power investment of about $750 billion by 2030.