Anthropic's revenue soared to $16.8 billion in Q3 2026, up 45%, as it prepares for a potential IPO next year.
Anthropic, the AI model developer behind Claude, has reported a significant 45% increase in its third-quarter revenue, reaching $16.8 billion. This announcement comes as the company prepares for its initial public offering (IPO) following a closed investor meeting in San Francisco on October 14.
During the meeting, CEO Dario Amodei and CFO Krishna Rao highlighted the company's impressive financial performance, showcasing a substantial rise from $4.7 billion in the first quarter and $11.6 billion in the second quarter of 2026. Year-to-date, revenue has surged more than threefold, although the growth rate has slowed, dropping from approximately 147% in the second quarter to 45% in the third.
Despite the robust revenue figures, Anthropic has yet to release its official quarterly earnings report and did not respond to inquiries from Reuters.
Profitability and AI Investment
According to The Information, Anthropic's adjusted operating margin has reached 11%, marking the second consecutive quarter of positive results in this area. However, this figure excludes certain expenses, including stock-based compensation, indicating that the company is not yet profitable.
In 2025, Anthropic recorded an operating loss exceeding $8 billion. The company continues to invest heavily in its computational infrastructure, committing to long-term cloud and infrastructure contracts totaling at least $518 billion over ten years, with about 80% of these obligations being non-cancelable.
IPO Preparation
As Anthropic gears up for its market debut, reports suggest the IPO could occur after the U.S. midterm elections in November 2026, with an anticipated valuation exceeding $2 trillion. The specific details and timing of the IPO remain unannounced.
Anthropic's major investors and tech partners include industry giants Google and Amazon. Notably, the company's annual revenue growth was projected to reach $65 billion by July 2026, a dramatic increase from $9 billion at the end of 2025, marking a pivotal moment as it achieved a positive adjusted operating result for the first time in a quarter.
