Anthropic disclosed a multi-decade payment schedule for its $895.4 billion in compute and infrastructure commitments in an amended IPO filing on Monday, detailing that $69.8 billion is due within the 12 months following Sept 30, $447.5 billion is expected through 2030 and the remainder stretches from 2031 to 2045. Leases signed but not yet started account for $451 billion of the total, including $100 billion signed after Sept 30, while $214 billion of the obligations carry termination rights or contingent conditions and another $150 billion to $175 billion in deals without fixed dollar amounts sits outside the tally. The filing also showed Anthropic swung to a third-quarter GAAP operating loss of $567 million from a $974 million operating profit in the second quarter, even as quarterly revenue jumped 1,127% year over year and 47% sequentially to $16.96 billion.

The return to an operating loss came as compute and infrastructure expenses rose 78% from the prior quarter to $9.86 billion, lifting compute costs to 58% of revenue and cutting revenue per dollar of compute spend from $2.08 to $1.72. Total third-quarter operating expenses reached $17.5 billion, driven by $5 billion in pricier short-term compute capacity and a $2 billion noncash charge from its employee charitable donation-matching program. Adjusted operating income rose to $2.5 billion from $2.2 billion in the second quarter, though the adjusted operating margin narrowed to 15% from 19%, and Anthropic warned that continued reliance on short-term capacity will further squeeze near-term margins.