Anthropic reported a quarterly revenue of $16.8 billion for the third quarter, marking a 45% increase. This data was shared during a private investor meeting in San Francisco on October 14, as the company prepares for a potential IPO. In the first and second quarters of the year, the developer of Claude models generated $4.7 billion and $11.6 billion in revenue, respectively.
Despite the growth, the pace has slowed compared to the 147% increase observed in the second quarter. Anthropic has not released official financial reports, and the company declined to comment on the figures. Reports indicate a 11% adjusted operating margin for the second consecutive quarter, though this calculation excludes certain expenses like stock-based compensation, and the firm reported an operating loss exceeding $8 billion in 2025.
The company is heavily investing in infrastructure, committing to long-term cloud and hardware contracts worth at least $518 billion over a decade, with 80% of these obligations being non-cancelable. Anthropic is targeting an IPO valuation exceeding $2 trillion, with a potential market debut expected after the November 2026 US midterm elections. Major partners include Google and Amazon.
