Exclusive report from *The Wall Street Journal* on Anthropic's IPO 'The company has stated it may spend $750 billion in the coming years to acquire more computing power.' 'Anthropic's spending on computing power in the first half of this year exceeded its total spending for all of 2025, with $7.3 billion spent and $4.6 billion in revenue.' 'The company will need to pay approximately $450 billion in cloud service agreement fees over the next seven to ten years. Most of these agreements are non-cancellable.' 'Including a $160 billion obligation to lease Google chips under an agreement with Broadcom, Anthropic's future infrastructure costs exceed $600 billion.'