Anthropic tells investors third-quarter revenue hit $16.8 billion
Revenue rose about 45% from the prior quarter, and the company said it was profitable on an adjusted basis.
AI and chips · Thursday, October 15, 2026 · 3:45 PM ET
Anthropic told prospective investors that its revenue in the third quarter rose to $16.8 billion, up about 45% from the second quarter, according to Reuters, The New York Times and CNBC, each citing people familiar with the matter. The figures came out of an investor meeting at the company's San Francisco headquarters on Wednesday, ahead of an expected stock market listing.
The numbers
Revenue was $11.6 billion in the second quarter and $4.7 billion in the first (Reuters, CNBC). Anthropic said it was profitable on an adjusted basis in the third quarter (Reuters, CNBC, The New York Times). The Times added that the company put its gross margin at 85% after adjustments. The Financial Times, as relayed by CNBC, reported that Anthropic was cash-flow positive, with $1.70 of revenue for every dollar spent on computing power in the quarter.
The IPO
The New York Times said the company could aim to raise more than $100 billion at a valuation of about $2 trillion, with trading starting as early as next month. Reuters, by contrast, has reported that the debut is likely to be pushed until after the November midterm elections. Rival OpenAI has also filed to go public, the Times said; see our story on OpenAI revenue.
How the market read it
Reuters said reports of the 45% jump offered little reprieve to the Nasdaq on Thursday. MarketWatch said the update added to worries about AI spending because growth was slower than in the second quarter, when revenue rose almost 145% from the first, per the Financial Times. Gil Luria of D.A. Davidson told clients the quarter was "not what anyone wanted to see," CNBC reported, while noting the positive cash flow and arguing that investors should not judge the sector on one company. Axios framed the same numbers as a bull case for AI as a business.
For the chip selloff that has run alongside this news, see our chip stocks story.