**[Anthropic IPO Prospectus Revealed: FY 2025 Revenue Reaches $4.59 Billion]** Reported by Jinse Finance, on September 29, a prospectus disclosed Anthropic's transformative artificial intelligence technology development plans presented to IPO investors. The document also revealed that Anthropic's revenue for fiscal year 2025 was $4.59 billion, marking a year-over-year growth of 1,088%. However, after deducting impairment losses primarily related to previous financing liabilities, the company still reported an operating loss exceeding $8 billion. Anthropic stated that nearly a quarter of last year's revenue came from two clients and warned in its risk factors that many of its largest customers have not signed long-term contracts and may reduce or cease spending in the future. This could prompt investors to exercise greater caution when evaluating the high valuations of high-growth companies. Recently, AI and chip stocks have experienced sell-offs, and Anthropic's IPO will further test whether market enthusiasm for AI investments can withstand stricter scrutiny. As of December 31, 2025, Anthropic held a total of $20.28 billion in cash, cash equivalents, and short-term investments. The prospectus also revealed that Anthropic plans to invest $518 billion in cloud computing, computational resources, and infrastructure commitments over the next year. *(Jin10)*