Anthropic S-1: it spent just $482M on capex in H1 2026, leasing most of its compute, and its capex is almost entirely outsourced via $782B in lease obligations (Tim Culpan/Culpium)

Anthropic spent $482M on capex in H1 2026, leasing most of its compute and outsourcing nearly all capex through $782B in lease obligations, with revenue per employee reaching $6.6 million.