Anthropic, the developer of the Claude AI model family, reported third-quarter revenue of $16.8 billion. This figure represents a 45% increase compared to the previous quarter. However, the company experienced a deceleration in growth, as its revenue had previously doubled between the first and second quarters of the year.
Despite the slowdown in growth, Anthropic has reached adjusted profitability. These financial results have prompted investors to re-evaluate the company's anticipated IPO valuation. While initial projections suggested a valuation of $2 trillion, some market participants now estimate the figure may be closer to $1.5 trillion.
The company's valuation expectations have shifted significantly since its last funding round in May, which valued Anthropic at $965 billion. Investors are now looking toward upcoming S-1 filings and feedback from the U.S. Securities and Exchange Commission to gain further clarity on the firm's revenue trajectory.
Market sentiment remains sensitive to new disclosures and underwriter guidance. Observers are also tracking secondary market pricing on platforms such as Forge Global to gauge how expectations regarding the company's market capitalization are evolving ahead of the potential public offering.
