Why Anthropic can't afford to delay its IPO

Anthropic's IPO is driven by necessity: its computing commitments could reach $750 billion, with over $600 billion in future infrastructure costs. The company reported $16.3 billion revenue in H1 2026, up from $1.1 billion, but an $80.7 billion net loss, mostly accounting charges. Public markets offer the liquidity needed for the AI arms race.