Anthropic reports $16.8 billion Q3 revenue ahead of November IPO

Anthropic told investors its third‑quarter revenue hit $16.8 billion as the AI firm readies for a highly anticipated initial public offering slated for November, sources said. The company also said it was profitable on an adjusted basis in the quarter.

The figure marks a sharp jump from $11.6 billion in the second quarter and $4.7 billion in the first. The growth mirrors a surge in demand for generative‑AI tools and follows months of quiet as the startup prepared for a public listing. Analysts have been watching Anthropic’s finances closely, hoping the numbers would support a valuation that matches the hype around its Claude model.

Anthropic said it turned cash‑flow positive in the quarter, generating $1.70 in revenue for every dollar spent on computing power. The data came from a meeting with potential investors, including large institutions, where the firm disclosed its results for the first time. Investors now expect the company to reach about $110 billion in annualized revenue by the end of the year, according to a Wall Street Journal report. The cash‑flow ratio and profit outlook are seen as signs that the business model is scaling efficiently.

If the November IPO proceeds, Anthropic could become one of the largest AI‑related listings on the market. A successful float would give the firm fresh capital to expand its research and compete more directly with rivals such as OpenAI and Google. It would also provide a benchmark for how much investors are willing to pay for AI companies that can turn rapid growth into sustainable profits. The coming weeks will reveal whether the market embraces Anthropic’s numbers and whether the IPO can meet the lofty expectations set by its recent performance.