Anthropic posts $16.8 billion in quarterly revenue before IPO

Anthropic told investors its revenue for the three months ended in September reached $16.8 billion, a 46% increase from the $11.5 billion it recorded in the second quarter, the Financial Times reported on October 14. The numbers were presented at a closed meeting with investors in San Francisco, where executives said the company turned an adjusted profit for the second quarter in a row.

The pace of expansion was far slower than in the preceding three months, when revenue more than doubled. That deceleration arrives as the artificial intelligence developer weighs an initial public offering as soon as November 2026 at a valuation nearing $2 trillion, a level that would rank among the largest ever sought by a company coming to market.

Rival OpenAI has seen its own revenue projections marked down, with estimates of annualized revenue cut to $50 billion from $70 billion, according to the Financial Times. Comparisons between the two are complicated by differing arrangements with cloud providers and other technology partners. OpenAI is weighing a $30 billion fundraising at a $1.4 trillion valuation, with a listing not expected before 2027.

Anthropic has also moved to compete on cost, releasing Claude Haiku 5.5, a cheaper model aimed at business customers trying to lower the expense of running large language models.

This story was first reported by Yahoo Finance UK.