STOCKS | Anthropic IPO Filing Discloses Nearly $900 Billion in Off-Balance-Sheet Commitments

According to Jin10, Anthropic PBC pledged in its IPO filing to spend nearly $900 billion on servers, buildings, power and other items through future obligations as it accelerates infrastructure expansion. The amount far exceeds the liabilities listed on its balance sheet and directly visible to investors. Investors must read the notes to Anthropic’s financial statements to see details of its planned spending; the off-balance-sheet obligations include future lease contracts and purchase agreements for data centers, power and GPUs. David Trainer, CEO of investment research firm New Constructs, said Anthropic’s commitments of this kind are enormous. “They have to invest huge sums in training, inference and energy,” he said.