AI startup Anthropic recorded a net loss of more than $80 billion in the first half of this year, the Wall Street Journal reported on Tuesday, citing a draft initial public offering prospectus.

That compares to a net loss of $13 billion during the same period a year earlier, according to the report.

The vast majority of that loss, $72 billion, resulted from accounting charges tied to changes in the value of convertible notes and other instruments the company issued to raise funding, the Journal report said.

Anthropic did not immediately respond to a Reuters request for comment.

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