Anthropic Hits $16.8B Revenue Ahead Of Planned Holiday Listing: Report

Artificial intelligence startup Anthropic reported a surge in third-quarter revenue to $16.8 billion while achieving profitability on an adjusted basis ahead of its highly anticipated initial public offering.

• Anthropic posted $16.8 billion in revenue for the third quarter and informed prospective investors that it achieved adjusted profitability, Bloomberg reported.
• The Claude maker is aiming to list as early as the week of Nov. 9, targeting a trading debut before Thanksgiving or by the end of the year. 
• Investors have indicated a valuation range between $1.8 trillion and $2 trillion.

Anthropic PBC’s third-quarter revenue has jumped to $16.8 billion as the artificial intelligence developer prepares to launch its initial public offering, Bloomberg reported, citing people familiar with the matter.

During a presentation at its San Francisco headquarters on Wednesday, the creator of the Claude AI model told prospective investors that it reached profitability on an adjusted basis during the quarter, according to the sources Bloomberg quoted.

Anthropic Targets A Nov. Listing

Anthropic is preparing to begin formal marketing for its initial public offering as soon as the week of Nov. 9, positioning the company to begin trading before the Thanksgiving holiday, according to Bloomberg.
Though deliberations remain fluid and schedules could change, the listing is expected to be completed no later than year-end, people familiar with the discussions told Bloomberg. 

Anthropic declined to comment on the financial details or timeline.

Trillion-Dollar Valuation Expectations

Investor reaction to the financial figures will be crucial in setting the final terms for the offer. Prior to the San Francisco presentation, prospective investors suggested that a fair valuation for Anthropic sits between $1.8 trillion and $2 trillion. The company expects its debut to match or exceed the scale of SpaceX’s (SPCX) offering. 

The strong third-quarter figures mark a sharp turnaround from the prior year. In 2025, Anthropic generated approximately $4.6 billion in full-year revenue—up from $386 million in 2024—while posting a net loss of nearly $42 billion and an operating loss exceeding $8 billion, according to documents previously reviewed by Bloomberg.

Intensifying AI Rivalry And Scrutiny

The push toward a public listing coincides with mounting competition and regulatory oversight. Anthropic remains in a tight race for valuation dominance against key rivals like OpenAI. Meanwhile, Meta Platforms Inc. (META) recently introduced its new "Muse Wonder" model, claiming capabilities in legal, financial, and coding tasks that rival Claude and ChatGPT, which is gaining popularity.

Retail sentiment on Stocktwits on Anthropic was ‘neutral’ with ‘low’ message volumes. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.