AI firm Anthropic's Q3 2026 revenue surged 45% to $16.8 billion, leading to an adjusted profit. The company shared the figures with investors ahead of an anticipated IPO, for which it is targeting a valuation of over $2 trillion.
Artificial intelligence company Anthropic's revenue surged 45 per cent to USD 16.8 billion in the third quarter of 2026 from the previous quarter, while the company also reported an adjusted profit, reports Reuters.
The figures were shared with prospective investors at a meeting held at Anthropic's San Francisco headquarters on Wednesday ahead of its anticipated initial public offering (IPO). The revenue rose from USD 11.6 billion in the second quarter and USD 4.7 billion in the first quarter, people who attended the investor meeting said, as per the report.
IPO Plans and Valuation
Anthropic Chief Executive Officer Dario Amodei and Chief Financial Officer Krishna Rao met prospective investors at the event, with some attendees expressing optimism about the company's rapid revenue growth and path to profitability, Reuters reported. The company is targeting a valuation of more than USD 2 trillion for its anticipated IPO, according to the report. Its public-market debut is expected to precede that of rival OpenAI, although the listing could take place after the November US midterm elections.
Balancing Growth and Costs
Anthropic is seeking to convince investors that its rapid revenue growth can eventually outweigh the substantial costs of developing and operating increasingly powerful AI systems. According to estimates from analysts who met company executives earlier this week, Anthropic's annual revenue run rate could reach USD 110 billion by the end of 2026.
The financial performance comes as AI companies face greater scrutiny over spending on chips, data centres and computing infrastructure. Anthropic has committed at least USD 518 billion over a decade towards cloud services, computing and infrastructure.
Last year, the company's revenue increased twelvefold to nearly USD 4.6 billion, even as it recorded an operating loss of more than USD 8 billion, excluding writedowns of liabilities largely linked to previous fundraising.
AI Safety and Company Background
At Wednesday's meeting, Amodei reiterated the company's focus on AI safety but did not discuss threats of human extinction, one attendee told Reuters. This contrasted with the company's prospectus, which warned that advanced AI could pose “catastrophic or existential risks to humanity”.
Anthropic, founded by former OpenAI executives, develops the Claude family of AI models and has expanded with support from Alphabet's Google and Amazon, which are investors, computing providers and distribution partners, as well as competitors in the AI market. (ANI)
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