Anthropic's $2 Trillion IPO Numbers and Meta Poaches MongoDB's CEO
Tuesday, 29 September 2026. Two stories are dominating tech today: the first detailed look at Anthropic's finances from its IPO prospectus, and Meta poaching MongoDB's chief executive to lead a new enterprise AI business. Here is what is going on.
Anthropic's prospectus: explosive growth, enormous costs
Reuters has seen Anthropic's confidential IPO prospectus, and the numbers show a company growing at extraordinary speed while spending on an extraordinary scale (reported via CNBC and Capital Brief).
- Revenue: $4.59 billion in 2025, up from $386 million a year earlier, an increase of roughly 12-fold.
- Operating loss: $8.06 billion, widening from $2.98 billion.
- Net loss: about $42 billion, but roughly $34 billion of that is a non-cash accounting charge tied to financing that could convert into shares.
- Compute and infrastructure spending: $7.33 billion, more than half of $12.65 billion in total operating expenses.
- Future cloud and infrastructure commitments: $518 billion.
- Cash and short-term investments: $20.28 billion at year-end.
- Customer concentration: its two largest customers each made up about 12% of revenue.
The expected IPO valuation is more than $2 trillion, over double the estimated $965 billion valuation from May. Reuters previously reported the listing is likely to come after the US midterm elections in November. No ticker or exchange has been confirmed.
MongoDB loses its CEO to Meta
MongoDB shares fell 18.46% on Monday to $334.68, their worst day since 3 March, after President and CEO CJ Desai resigned with immediate effect to join Meta (Yahoo Finance/Investing.com, Bloomberg). Bloomberg reports the drop wiped about $6.1 billion off MongoDB's market value.
- Desai becomes Meta's Chief Enterprise Platform Officer, reporting directly to Mark Zuckerberg.
- He will lead Meta Enterprise Platform, which packages Meta's AI stack, including the Muse agent, Meta Business Agent and Muse Code, for businesses and developers.
- Dev Ittycheria, MongoDB's CEO from 2014 to 2025, returns as interim CEO while the board searches for a permanent replacement.
- MongoDB reaffirmed its Q3 and full-year fiscal 2027 guidance, and holds its investor day today at the Nasdaq MarketSite.
- Meta shares fell 4.79% on Monday.
Also on the radar
- OpenAI's DevDay takes place today, 29 September, at Fort Mason in San Francisco (OpenAI).
- Micron reports earnings on 30 September, a key read on AI memory demand (Bloomberg, Zacks).
Sources
For information only. Not financial advice. See our disclaimer and editorial standards. Spotted an error? Tell us.
