Anthropic revenue jumps to US$16.8 billion in quarter before IPO

Anthropic, the creator of the popular AI model Claude, reported revenue of US$16.8 billion in its third quarter, marking profitability on an adjusted basis, according to sources familiar with the company's financials. The AI startup plans to go public, with its initial public offering (IPO) expected to begin in early November 2026, ahead of the Thanksgiving holiday.

Anthropic's revenue surge follows a dramatic increase in losses, with the company reporting a net loss of almost US$42 billion in 2025, a figure nearly five times higher than the US$8.3 billion loss from the previous year. Despite this, investors remain optimistic, with some suggesting that a fair valuation for Anthropic could range between US$1.8 trillion and US$2 trillion.

The AI company is facing increased competition as it prepares for its IPO, with rivals like OpenAI challenging its position in the market. Additionally, public scrutiny surrounding AI safety has grown, particularly following a series of high-profile hacking incidents involving rogue agents. This heightened concern adds an additional layer of pressure as Anthropic navigates the complexities of its IPO process.