Anthropic, which is nearing an initial public offering (IPO), reportedly recorded over 100 trillion won in losses for the first half of this year despite a 1,500% surge in revenue.

According to the U.S. daily The Wall Street Journal, which obtained Anthropic's registration statement (S-1), the company generated 16.3 billion dollars (approx. 21.6 trillion won) in revenue during the first half of this year, which is 15 times the 1.1 billion dollars recorded during the same period last year.

However, despite this record revenue growth, Anthropic posted a net loss of 80.7 billion dollars (approx. 107 trillion won) over the same period.

This is nearly double last year's annual loss of 42.0 billion dollars.

The newspaper explained that the vast majority of this loss—72.0 billion dollars—consists of paper losses resulting from changes in the value of financial instruments, such as convertible bonds (CBs) issued for fundraising.

Behind Anthropic's steep growth were massive infrastructure expenditures.

In the first half of this year alone, the company spent 9.0 billion dollars (approx. 11.9 trillion won) on securing compute capacity and infrastructure, already surpassing its total annual spending of 7.3 billion dollars from last year.

The scale of future compute resource contracts that must be paid is also astronomical at 450 billion dollars (approx. 596.7 trillion won).

Over the next 7 to 10 years, the company must pay 111 billion dollars to Google Cloud, 110 billion dollars to Amazon Web Services (AWS), and 31 billion dollars to Microsoft (MS) for compute resource usage fees under binding, non-cancellable contracts.

Adding Google chip leasing contracts through Broadcom (exceeding 160 billion dollars) and agreements with smaller cloud providers pushes future infrastructure costs beyond 600 billion dollars.

When including additional negotiations currently underway, the cost of securing compute capacity alone reaches up to 750 billion dollars (995 trillion won).

In particular, while Anthropic currently receives most of its compute capacity from the three major cloud providers, it is building its own data centers as it faces difficulties securing capacity because these providers view Anthropic as a competitor.

Anthropic stated that about one-fifth of its revenue came from two clients and projected that a significant portion of its revenue will continue to come from a small number of clients for the time being.

Regarding technological risks, the company also noted that AI models could exhibit "self-preservation" traits to prevent themselves from being shut down or generate responses akin to blackmail against humans, carrying the risk of getting out of control.

It also cited potential damages from catastrophic AI-related accidents and pushback against data centers as risk factors.

The status of executive compensation was also disclosed.

Chief Executive Officer (CEO) Dario Amodei and President Daniela Amodei, who are siblings, each received a base salary of 655,000 dollars (approx. 870 million won) last year, and including stock compensation, received total compensation of 18.0 million dollars (approx. 239 billion won) and 16.5 million dollars (approx. 219 billion won), respectively.

The Wall Street Journal evaluated that this is around the median level for S&P 500 company CEOs and somewhat lower than executives at major tech companies.

Anthropic's co-founders have pledged to donate 80% of the company shares they personally hold to philanthropic activities.

The company itself has also stated it will contribute 5% of its total shares to a public interest fund.