Anthropic excludes charitable spending from profit metrics ahead of IPO push

Anthropic has changed how it presents its core profitability as it moves closer to an initial public offering tied to a valuation of nearly $2 trillion. The company is now excluding spending related to its charitable programs from that calculation, even though those costs had previously been counted as operating expenses. According to the report, Anthropic said the revised presentation offers a clearer view of its commercial operations. The move appears designed to make the company more attractive to public-market investors as it prepares for a potential listing. The change has also drawn concern. Analysts cited in the report warned that the approach could dilute shareholder interests and weigh on investor confidence. Anthropic had earlier pledged to direct part of the value created by its growth to charitable causes, making the accounting shift notable as the company heads toward a possible IPO.