Anthropic Files S-1: Holds $131.7 Billion in Cash, Long-Term Compute Payment Obligations Exceed $500 Billion

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Unmatched fundraising capability! Anthropic holds $1.317 trillion in cash, more than Nvidia and Apple combined

Cailian Press Bian Chun | Editor: Lin Qi | 2026-10-28 08:13

① Data shows that Anthropic's total cash reserves of $1.317 trillion exceed those of all U.S. non-bank companies except Berkshire Hathaway and Alphabet; ② Nvidia's and Apple's cash reserves combined do not match it; ③ Never before has a company held such an enormous amount of cash at the time of its listing. Anthropic's massive funds highlight its strong fundraising capability.

Cailian Press, October 28 (Editor: Bian Chun) — Anthropic holds more cash than almost any company in the United States.

The AI lab, founded nearly six years ago, disclosed in an S-1 filing submitted to the U.S. Securities and Exchange Commission on Monday that as of June 30 it held $112.4 billion in cash, plus another $19.3 billion in short-term investments.

According to data compiled by the media and S&P Capital IQ, Anthropic's total cash reserves of $131.7 billion exceed those of all U.S. non-bank companies except Berkshire Hathaway and Alphabet.

As of mid-year, Anthropic's cash reserves exceeded those of Amazon, SpaceX, Meta and Microsoft. The cash reserves of the two giants Nvidia and Apple combined do not match it.

Reports say Anthropic plans to raise more than $100 billion in its IPO; if it achieves that goal, the company's cash reserves would climb further to more than $230 billion.

As of now, Anthropic has not disclosed specific details of the offering size. The company stated in its prospectus that existing shareholders will also sell shares in this IPO, meaning the proceeds will not all go into the company's accounts. Relevant details are expected to be announced in about two weeks.

It is worth noting that never in history has a company held such an enormous amount of cash at the time of its listing.

Strong fundraising capability

Anthropic's massive funds highlight its strong fundraising capability, enabling it to accumulate a total of $141 billion in private financing in just six years since its founding.

On the other hand, the company still has a large amount of long-term payment commitments for computing power procurement that have not yet been expensed in the current period. Anthropic still needs to continue accumulating cash through financing or achieving profitability in order to fulfill these payment obligations.

Anthropic's computing and infrastructure spending in the first half of the year totaled $8.95 billion. But the company said it typically purchases computing capacity 12 to 18 months in advance and recognizes the expense only when that capacity becomes available. This means the first-half spending figure does not cover the full scale of its future obligations.

The prospectus discloses that as of June 30, Anthropic's estimated undiscounted future lease obligations amounted to $321.4 billion, and future fixed or minimum guaranteed commitments were estimated at $265.6 billion — totaling more than $500 billion. These payments must be made gradually over the coming years.

In addition, since June 30, Anthropic has signed a batch of new agreements and amended agreements, adding about $245 billion in minimum forward payment obligations.

In short, if Anthropic's cash is the "king," then computing power is the biggest shackle on its crown.

Artificial Intelligence

Computing Power

Cailian Press statement: The content of this article is for reference only and does not constitute investment advice. Investors who act on it do so at their own risk.

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