Anthropic: -$21.9B from the change in fair value of its convertible securities in Q3 2026, -94% of its net loss
Change in fair value of convertible notes, derivatives and SAFEs: -$21.9B against a net loss of $23.3B · A revaluation lowers the reported result of one company and raises it at the other side of the contract; adjusted figures that leave it out show the operating business, reported ones include it: the operating line separates the two
Markets · IPO Watch · SEC EDGAR (10-Q and S-1/A filings) · 29 Sep 2026