Anthropic now earns $2.08 for every $1 it spends on compute

The Claude maker's compute efficiency has jumped from $0.40 per dollar in early 2025 as it reportedly prepares for a public listing Anthropic generated $2.08 in revenue for every dollar it spent on compute in the second quarter of 2026. In the first quarter of 2025, that figure was $0.40. That works out to more than a fivefold improvement in about a year. The broader first-half figures show how fast the business scaled. Anthropic reported $16.3 billion in revenue for H1 2026, compared with $1.1 billion in H1 2025. Over the same six months, the company spent nearly $9 billion on compute and infrastructure. That puts its first-half efficiency at roughly $1.70 to $1.81 in revenue per compute dollar. The second-quarter reading of $2.08 sits above that half-year range.

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